Global energy executives and traders warned that oil prices are set to reach $100 per barrel within days as the near-total halt of shipping through the Strait of Hormuz transforms a long-held worst-case scenario into a reality. The physical energy market is already showing signs of severe strain. Meanwhile, the Financial Times reported that Qatar’s energy minister warned oil could reach $150 per barrel if the conflict is not resolved soon. Amos Hochstein, managing director at TWG Global and former advisor to Joe Biden, warned that the market facesfurther volatility. “If the Strait remains closed when oil returns to trading tomorrow evening, I think the price jump will be much larger,” he said.

Source: Daily News Egypt March 08, 2026 18:17 UTC