Oil Surges Past $100 Following UAE’s OPEC Exit and Hormuz Closure

Oil prices rallied sharply to surpass the $100 per barrel mark, driven by the shock of the UAE's sudden exit from OPEC. This structural shift coincided with the ongoing closure of the Strait of Hormuz, causing severe disruptions to global supply chains. Escalating geopolitical tensions and the failure of negotiations between the United States and Iran are further exacerbating energy security concerns. Analysts suggest that the combination of physical supply shortages and political risks has created a market shock that outweighs previous bearish sentiment. These developments are also intensifying global inflationary pressures, leaving markets on high alert for the next moves from major producers and consumers alike.