Oil markets in turmoil: US measures struggle to contain supply shock from Hormuz blockade | Iran war

Oil markets face extreme volatility as Donald Trump struggles to contain price surges triggered by the Strait of Hormuz blockade. Emergency measures, including SPR releases and global coordination via the International Energy Agency, are falling short as supply disruptions intensify. With tanker traffic stalled and alternatives limited, analysts warn crude could spike to $200 per barrel, threatening global economies and political stability. As pressure mounts ahead of elections, can the U.S. and allies reopen Hormuz before the crisis deepens?