Oil prices have surged past $110 a barrel, reaching their highest levels since the pandemic, as fears mount over the escalating war in Iran. Analysts warn that the situation could lead to an unprecedented disruption in global oil supply, with projections indicating prices could rise even further. The Strait of Hormuz, a vital channel for oil transportation, has seen a significant decline in traffic due to the conflict, raising concerns about future supply shortages. As the situation unfolds, global markets are reacting with stocks plunging and gas prices expected to exceed $5 a gallon in the U.S. Major companies and analysts are closely monitoring the situation, as the current escalation poses serious risks of inflation and an energy crisis on a global scale.