Crude oil soars past $100pb: global implications are huge!

Show notes

Oil markets are surging as tensions in the Middle East escalate. US crude briefly spiked to $120 per barrel, while Brent crude climbed above $110, with both benchmarks still trading above the $100 mark. The stakes are enormous: the Middle East holds around half of global oil reserves and roughly 40% of the world’s natural gas reserves, and about 20% of global oil and LNG flows through the Strait of Hormuz — one of the most critical energy chokepoints in the world.
If energy prices remain elevated, inflation pressures could return globally, complicating the outlook for central banks, bond markets, and global growth.

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Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020, and launched her own website ipekScope.com in 2025.