Oil's worst-case scenario: $200 if Hormuz remains closed

""There is no policy option to prevent oil prices from marching up toward $200 a barrel if the Strait of Hormuz remains closed," said Jason Bordoff, founding executive director of Columbia University's Center on Global Energy Policy. "It's too large of an amount of supply to the global market.""

""Ships that escaped the Strait of Hormuz before [the war] began have reached port," former Secretary of State John Kerry said last week at the Houston conference. "They're empty now.""

U.S. gasoline prices have surged 35% since the war began, exceeding $4 a gallon. Countries reliant on Middle Eastern oil face severe fuel shortages. Analysts predict a 55% chance the war will last through May, with potential oil prices exceeding $150 a barrel if Iran targets oil infrastructure. If the conflict extends into June, prices could reach $200. Current price stability is due to short-term buffers, but these are diminishing as oil in transit is depleted.

Read at Axios