$100 Oil? A Prolonged Hormuz Closure Could Trigger a 1970s-Style Energy Shock

Source: International Business Times

Oil markets brace for disruption as tensions around the Strait of Hormuz raise fears of $100 crude and a 1970s-style energy crisis. Roughly a fifth of the world's traded oil passes through the Strait of Hormuz. Analysts warn that any sustained disruption could send crude towards $100 and jolt the global economy.