Iran War 2026: Strait of Hormuz Crisis Shocks Global Oil Market, Prices Could Hit $200
Published: March 28, 2026
The ongoing Iran war has triggered a massive global oil crisis, with experts warning that crude oil prices could reach as high as $200 per barrel. The main reason behind this surge is the disruption in the Strait of Hormuz — a critical route responsible for nearly 20% of global oil supply.
Since the conflict began, oil prices have already surged by more than 50%, creating panic across global markets and increasing fuel costs worldwide. 1
Why This Crisis Matters
- 20% of global oil supply passes through Hormuz
- Supply chain disruption affecting Asia & Europe
- Fuel prices rising rapidly worldwide
If the conflict escalates further, experts believe the energy crisis could become one of the worst in modern history.
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