Institution: If Iran closes the Strait of Hormuz, oil prices will exceed $100 per barrel.

GeoMacro Strategy's chief strategist Marko Papic said that if Iran were to close the Strait of Hormuz, the market would face the worst-case scenario, but this is unlikely to happen. If they were to do so, oil prices would exceed $100, fear and panic would take over, stocks would plummet at least 10%, and investors would flock to safe havens.