Rising geopolitical tensions in the Gulf region are creating worry among investment analysts. Energy experts predict that if Iran were to cut access to the Strait of Hormuz, crude futures could push towards triple digits. The Strait is positioned between Iran and Oman and only 21 miles wide at its narrowest point. Over 21 million barrels flow through the Strait each day, and the Energy Information Agency calculates that 76% of this is headed to the Asian market.
- $100 Barrels of Oil Possible if Iran Cuts Off Passage to Vital Trade Route