WTI Surpasses $100 as Strait of Hormuz Closure and Houthi Advances Disrupt Oil Transit

Crude oil prices have surged past $100 per barrel as the Middle East conflict escalates, with the Strait of Hormuz reportedly closed and Houthi advances in Yemen threatening Bab el-Mandeb. The closure of Hormuz, a critical chokepoint for global oil shipments, represents a severe supply disruption, though the exact duration and extent of the closure remain unconfirmed. This development sharply raises energy price risk and inflation expectations, with potential global economic repercussions.