Original Source

S&P Global has warned that if a prolonged blockade of the Strait of Hormuz occurs, international oil prices could surpass all-time highs, deepening a global economic crisis.

Warning of Oil Price Surge from Hormuz Strait

A warning has been issued that if instability in the Strait of Hormuz persists for several weeks, it could lead to a severe crisis in the global energy market. Dave Ernsberger, President of S&P Global, predicted that if the strait remains blocked, international oil prices could exceed the peaks seen 10-15 years ago. This could lead to record high oil prices and place significant strain on the global economy.

Impact on Global Economy and Consumers

Gulf region oil-producing nations would be forced to reduce output, making a decrease in global supply inevitable. Ernsberger stated that this would cause fuel prices to surge at gas stations worldwide, and some markets could even face fuel shortages. This scenario would not only directly increase the burden on consumers but also create a challenging situation for the global economy as a whole.

*Source: YouTube: NDTV (2026-03-11)*

Related Articles