Back in March, when the Trump administration and the Israeli government initiated their attack on Iran, it didn’t take a prophet to foresee the potential for an energy disruption due to the Strait of Hormuz getting blocked off to at least some extent. With over 10 million barrels a day worth of oil blocked at its peak, along with 20 percent of the global economy’s liquefied natural gas (LNG), the blockade has caused the greatest energy supply disruption in history. At the start, some analysts were predicting oil could go as high as $200 a barrel. Instead, oil jumped to a peak of $103.90 sixteen days into the war and settled below that mark in the months after.
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