Analysts: Oil prices begin their surge past $100; the Strait of Hormuz stalemate remains unresolved.

With the Strait of Hormuz effectively closed to shipping, supply concerns pushed crude oil futures to near two-year highs. Peter Cardillo of Sparta Capital stated in a report, "We believe crude oil prices could accelerate towards $100 per barrel, as the closure of the Strait of Hormuz will remain a challenge in the medium term." He believes "there is currently no easy solution to quickly resolve the supply disruption." (Jinshi)