1970s-style oil shock loading? Crude may hit $100 if Strait of Hormuz shuts amid Middle East tensions – what it means
The Strait of Hormuz serves as the primary outlet for most crude exports from the Persian Gulf. (AI image) Will oil prices hit $100 due to ongoing tensions and conflicts in the Middle East? Oil, quite literally, is the fuel that drives global economies. Rising oil prices in turn can trigger inflation across goods and…