The escalating conflict between Iran and Israel has raised concerns over the possibility of Iran blocking the vital Strait of Hormuz. Analysts warn that such a move could significantly impact global oil and LNG prices, leading to inflation spikes. The strait serves as a crucial route for oil exports from countries like Saudi Arabia, UAE, and Iraq, accounting for 21% of global oil consumption. With tensions mounting, crude oil prices have already reached $90 per barrel. While efforts for de-escalation are underway, the potential blockade of the strait remains a major concern for the energy market.