Oil price touches $100 a barrel as energy market may be past ‘point of no return’
Oil prices have surged to $100 a barrel following recent US strikes on Iran, raising concerns about the stability of the global energy market. Experts warn that the ongoing conflict and blockade of oil shipping through the strait of Hormuz may have pushed the market past a critical point. With global stockpiles dwindling and demand expected to rise, the situation remains precarious for oil supplies.
- ▪The shutdown of the strait of Hormuz has cut 14.4 million barrels of oil a day from the Gulf's prewar output.
- ▪Oil prices reached $100 a barrel after US strikes on Iran, with experts suggesting the market may be past the 'point of no return.'
- ▪Global oil demand has significantly decreased, yet there remains a substantial shortfall in crude supplies.
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The shutdown of the strait of Hormuz has cut 14.4m barrels of oil a day from the Gulf’s prewar output. Photograph: ReutersView image in fullscreenThe shutdown of the strait of Hormuz has cut 14.4m barrels of oil a day from the Gulf’s prewar output. Photograph: ReutersOilOil price touches $100 a barrel as energy market may be past ‘point of no return’Crude rises after US strikes on Iran dampen hopes of peace deal, with experts saying talks appear stuck in ‘endless loop’ Business live – latest updates Jillian AmbroseTue 26 May 2026 08.29 EDTLast modified on Tue 26 May 2026 08.32 EDTSharePrefer the Guardian on GoogleOil has again touched $100 a barrel after fresh US strikes on Iran dashed hopes of a Middle East breakthrough, with experts saying that whatever the outcome of peace talks the…
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