Oil prices have surged above $100 per barrel as hopes for a resolution to the Iran conflict fade. Recent threats from former President Trump to block the Strait of Hormuz and US announcements regarding Iranian port blockades have exacerbated fears of supply disruptions. The volatility in oil prices is mirrored by fluctuations in stock futures, which have seen declines amid ongoing tensions. Analysts warn that the situation could lead to record highs, with some predicting prices could reach $150 per barrel if shipping woes persist. Despite a brief period of optimism around a ceasefire, markets remain jittery as the outlook remains uncertain.