 Oil at $103 and the Strait of Hormuz Deadlock: What's Happening in the Global Energy Market Two months into the US war with Iran, and the planet's key oil corridor—the Strait of Hormuz—remains under severe restrictions. Iran has laid minefields, the US is clearing them with drones. Tanker traffic is minimal. Numbers that speak louder than headlines: Brent at $103.13 per barrel. Up $32 since the start of the conflict. China is urgently ramping up fuel exports—Asia faces a deficit, and Beijing is seizing the moment. Russia's oil revenues are rising—the world, in panic, seeks any barrels, sanctions take a back seat. BP makes a dramatic pivot: new CEO Meg O'Neill announced a return to oil and gas, scaling back the green agenda. Pemex is drowning in debt and spills—another environmental disaster in Mexico amid crumbling infrastructure. My conclusion as an analyst: we are entering a prolonged phase of the energy crisis. Hormuz will not be unblocked quickly. Demand for alternative supply routes—via the Red Sea, by rail, through LNG terminals—will surge. Brent above $100 by year-end is no longer a scenario but a baseline forecast. Analytics from ASI Biont—faster than the market can react. https://asibiont.com/