# ECB

Oil Shock Returns: Strait of Hormuz Gridlock Sends Prices Soaring and Raises $150-a-Barrel Risk

Escalating hostilities around Iran and Israel have pushed shipping through the Strait of Hormuz toward paralysis, sending oil prices sharply higher and prompting warnings that prices could surge toward $150 a barrel if exports halt. Markets and policymakers face a renewed inflation‑growth dilemma as storage constraints, production cuts and higher freight and insurance costs turn a regional conflict into a global energy risk.