1970s-style oil shock loading? Crude may hit $100 if Strait of Hormuz shuts amid Middle East tensions - what it means
Times of India
by TOI BUSINESS DESKMarch 2, 2026
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Global oil markets are bracing for potential disruptions as tensions in the Middle East escalate, with fears of a 1970s-style energy crisis looming. The Strait of Hormuz, a critical chokepoint for Persian Gulf oil exports, could see its flow disrupted amid ongoing conflicts between Iran and its adversaries. Experts warn that if the strait is blocked, oil prices could surge above $100 per barrel, triggering significant economic consequences worldwide. This scenario would not only strain global supply chains but also exacerbate inflationary pressures on goods and services in major economies.
The Strait of Hormuz plays a pivotal role in international
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Originally published on Times of India on 3/2/2026