The ongoing closure of the Strait of Hormuz is creating unprecedented volatility in oil markets, with prices skyrocketing past $110 a barrel. Experts warn that if the blockade continues, supply losses could reach 14 million barrels per day, driving prices potentially to $150. Analysts highlight that this situation is leading to the most significant gap in energy supplies the world has ever seen, with ripple effects impacting global economies from Asia to Africa and Europe. The prolonged disruption is expected to exacerbate an already strained oil supply chain, leading to fears of deep deficits and price spikes in various regions, while traders bet on historic surges in Brent crude. Goldman Sachs and Barclays have both revised their forecasts, anticipating higher prices in the near future unless the Hormuz situation stabilizes.