Crude oil surges past $100 a barrel as geopolitical tensions escalate. The U.S. Navy has initiated a blockade of Iran's maritime access through the Strait of Hormuz following failed peace negotiations between Washington and Tehran. Brent crude climbed 7.05% to $101.91 per barrel, while West Texas Intermediate jumped 7.86% to $104.16. President Trump confirmed the blockade would take effect Monday, with all maritime traffic to Iranian ports subject to enforcement. Iran's Revolutionary Guards warned of firm responses to military vessels near the Strait. Market analysts project crude could reach $110 to $150 per barrel if disruptions persist through April, with Kotak Securities forecasting near-term prices around $120. Macquarie suggests prices will remain supported between $85 and $90, gradually moving toward $110 as normalcy returns.
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