Daijiworld Media Network - London
London, Mar 7: A week into one of the largest disruptions to global energy markets, oil prices remain below levels seen in previous crises.
Yet energy executives and traders warn that continued conflict could push crude toward $100 per barrel in the coming days.
Ship traffic through the strategically vital Strait of Hormuz has almost come to a halt, creating a worst-case scenario long feared by energy markets.
The number of empty supertankers in the Gulf is dwindling, increasing the likelihood that further production cuts will be unavoidable.
Market analysts caution that prolonged disruption could have ripple effects on global fuel supplies, intensifying concerns over energy security and inflation worldwide.