Institution: If the transportation of oil tankers through the Strait of Hormuz cannot be quickly restored, oil prices may exceed $100 per barrel.

Affected by the US-Iran conflict, the vital oil and gas transport chokepoint of the Strait of Hormuz has come to a standstill, through which about one-fifth of global seaborne oil and liquefied natural gas is transported. Wood Mackenzie believes that if the oil tanker transportation in the Strait of Hormuz cannot quickly resume, oil prices may exceed $100 per barrel. Alan Gelder, Senior Vice President of Refining, Chemicals, and Oil Markets at Wood Mackenzie, stated that if the Iranian regime chooses to cooperate with the US, it could take several weeks for export transportation to resume. Even with OPEC increasing production in April, if the waterway remains closed, the organization's additional supply and idle capacity will not be able to enter the market. Approximately 15% of global oil supply and 20% of liquefied natural gas supply could be affected.