How High Could Oil and Gas Prices Go? Strait of Hormuz Closure

How vulnerable are global oil markets to escalation involving Iran?Nearly 20% of the world’s traded crude oil passes through the Strait of Hormuz, making it the most strategically important energy chokepoint in the world. As tensions rise in the Middle East, investors and businesses are reassessing supply risk in 2026.In this episode, Andy Critchlow, Global Head of News at S&P Global Energy & Platts, examines with host Alex Wolfe:The strategic importance of the Strait of HormuzIran’s oil export volumes over the past 12 months and their role in global supplyThe immediate market reaction following the latest developmentsWhy oil began 2026 near $60 per barrel despite geopolitical riskWhether disruption involving Iran would be more complex than the post-Ukraine rebalancingThe key indicators shaping energy security, pricing and volatilityWith markets entering the year in apparent oversupply, this episode explores whether geopolitical risk is fully reflected in current oil prices and what could shift the balance in the months ahead.Andy Critchlow is an experienced British business journalist and editor, currently serving as the Head of News for EMEA at S&P Global Commodity Insights. Specialising in energy, commodities and Middle East politics, he has over 25 years of experience, including previous roles at Reuters Breakingviews, The Wall Street Journal and Bloomberg.Be sure to join us for our upcoming fundraiser event with SSAFA, the Armed Forces Charity, on Thursday 26th March 2026. Tickets are available: https://www.eventbrite.co.uk/e/ssafa-fundraiser-the-greatest-car-company-debate-charity-auction-tickets-1977379995797#straitofhormuz  #iranoil  #oilpricesSeason Two is in Partnership with The SpectatorTickets for the upcoming The Spectator Energy Summit, on Monday 30th November 2026, are available on sale. Use code: WPC50 for 50% off your purchaseIf you would like to partner with The Spectator Energy Summit, please contact Alex on LinkedIn or [email protected] Our SocialsWebsite: https://www.wolfepowerclub.com/YouTube: https://www.youtube.com/@WolfePowerClubLinkedIn: https://www.linkedin.com/company/wolfe-power-club/Instagram: https://www.instagram.com/wolfepowerclub/?hl=enTikTok: https://www.tiktok.com/@wolfe.power.club Wolfe Power Club Production TeamFounder and Host: Alex WolfeDirector of Government Relations: Max AustinDesigner: Nick PelekanosEditor: Adam WoodwardSocial Media Manager: Bella Carter Recorded at Studio 55 - which has produced podcasts, including Breaking the Taboo with Theo Clarke and The ABTO Podcast