Mario Nawfal: U.S. oil prices surge above $110 amid Strait of Hormuz crisis

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Olesia Kramarenko

30.04.2026

Mario Nawfal: U.S. oil prices surge above $110 amid Strait of Hormuz crisis — U.S. oil climbs above $110 level

Mario Nawfal, founder & CEO at IBC Group, reports that U.S. oil prices have surged above $110 a barrel as the crisis in the Strait of Hormuz escalates.

According to Nawfal, nearly 2,000 ships and 20,000 sailors are stranded in the Gulf, waiting to traverse the vital shipping channel. Marine insurance companies have also canceled war risk coverage amid growing tensions in the region.

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Nawfal recently noted that hedge funds sold global stocks at the fastest rate in a decade in March. He has also highlighted projections that Germany's share of global GDP may decline to 4 percent by 2030. These updates come as new risks emerge in energy and shipping markets.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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