Oil prices soared past $100 a barrel on April 13, with Brent crude futures climbing $6.71 (7.05%) to $101.91 and U.S. West Texas Intermediate increasing $7.59 (7.86%) to $104.16. This surge follows the U.S. Navy's decision to block access to the Strait of Hormuz, a key route for Iranian oil exports, after failed negotiations aimed at resolving ongoing conflicts. Despite a ceasefire technically remaining in place, market dynamics reverted to pre-ceasefire conditions, leading to a significant rebound in oil prices after a previous drop of 15%. Analysts from brokerage firms like Macquarie and Kotak Securities suggest that if tensions persist, oil prices could stabilize between $85 and $90, with potential increases to $120 or even $150 per barrel if disruptions continue. The ongoing geopolitical tensions in the Middle East are expected to keep supply tight, contributing to inflationary pressures worldwide.