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Escalation on Middle East can lead to the biggest gas market crisis since 2022

As noted, 20% of global LNG supplies pass through the Strait of Hormuz, and after its closure, they were effectively blocked

IRGC closes Strait of Hormuz to vessel traffic after attack on Iran

Brigadier General Ebrahim Jabbari said this in an interview with Al Mayadeen

Brent price may gain $20 a barrel as early as on March 2

This scenario is possible if no de-escalation around Iran is noted on Sunday, Rystad Energy says

Oil prices to exceed $100 per barrel

The head of the Russian Direct Investment Fund earlier said that the closure of the Strait of Hormuz would not spare the US and would lead to to a "global oil shock"