Oil prices have surged as the crisis in the Strait of Hormuz continues, with WTI crude oil climbing back to $100 and both U.S. and Brent crude oils rising over 2% on April 28. The deadlock in U.S.-Iran negotiations has exacerbated the situation, with Iran demanding the lifting of U.S. port blockades in exchange for resuming shipping through the strait. President Trump has stated that sanctions will only be relaxed once an agreement is fully implemented. Analysts warn that if the conflict persists, oil prices could break above $150 per barrel. Tamas Varga of PVM Oil Associates highlighted the lack of alternative energy sources to compensate for the supply gap. Andy Lipow of Lipow Oil Associates noted that even a swift resolution would require months to clear mines and restore production. Wall Street institutions, including Goldman Sachs and Citigroup, have adjusted their forecasts, with Citigroup predicting Brent crude could reach $150 if the blockade continues until June.