Oil prices have seen significant increases, topping $105 per barrel, as tensions in the Strait of Hormuz escalate. The ongoing deadlock between the U.S. and Iran, coupled with recent air attacks and military threats, has kept markets on edge. With the Strait of Hormuz remaining shut, supply concerns are rising. Experts have raised predictions for oil price stability, with some anticipating a new equilibrium around $95 per barrel. As the ceasefire deadline looms, both investors and consumers brace for further price volatility, with suggestions that gas prices may surge towards $8 in some regions.