Experts warn: US military blockade of Hormuz Strait is "too crazy", oil prices may soar to $150.

Oil experts warn that if the United States implements a naval blockade on the Strait of Hormuz as planned, oil prices could skyrocket to $150 per barrel. On Monday, Brent crude oil prices jumped to over $103 per barrel, following the failed weekend negotiations between the United States and Iran, exacerbating the global energy crisis that has been shaking the market. The U.S. military is set to begin the blockade at 10 a.m. New York time on Monday, covering all ships entering and leaving Iranian ports. Jorge Montepeque, Managing Director of Onyx Capital Group, stated, "The numbers we are seeing this morning - $103, an increase of 8% - do not at all reflect what would happen if the U.S. actually decides to implement this embargo. It makes no sense. The price should be $140, or $150." Montepeque warned that the U.S. blockade could escalate a regional conflict into a global one, leading to a reduction of daily oil supply by up to 12 million barrels. He also added that traders believe the simultaneous blockade of both sides of the strait is "too crazy," hence the relatively calm price reaction during the Asian trading session. Montepeque said, "One word to describe it: madness. The U.S. is acting irrationally right now, as they are too focused on Iran, neglecting the impact they are causing to the world. And this impact is concentrated in Asia, the South Pacific region, and all oil-dependent countries." Montepeque mentioned that if Trump were to scale back some actions, oil prices could potentially remain around $100 per barrel for the rest of the year.