In the aftermath of Iran's attack on Israel, oil prices (BZ=F, CL=F) have been experiencing fluctuations as tensions continue to rise in the Middle East. Israel's retaliation on Thursday night has further escalated the situation, prompting concerns over the potential spread of conflict and its impact on global oil production.

Scott Bauer, CEO of Prosper Trading Academy, recently joined The Morning Brief to shed light on the current state of oil prices and the implications for both consumers and investors. Bauer highlighted the significant risk posed by the closure or consolidation of the Strait of Hormuz, through which approximately 20% of the world's oil supply passes. The concern lies not in Iran's ability to supply oil, but rather the potential disruption in its delivery.

As speculation grows amidst the escalating tensions, some experts have suggested that oil prices could reach $100 per barrel. However, Bauer believes this is an oversimplification, stating that the conflict between Russia and Ukraine previously saw oil prices spike to $125 per barrel. He does not foresee a similar drastic increase occurring at this time.

The Strait of Hormuz, located between Iran and Oman, is a crucial transit route for oil tankers, making it a strategically significant region. Any disruptions to the flow of oil through this narrow passage could have far-reaching implications for global markets and economies.

In light of the current situation, governments and industry stakeholders are closely monitoring developments and taking precautions to ensure the continued stability of oil supply chains. While tensions continue to escalate, it remains to be seen how this will ultimately impact global oil prices and availability.

For further analysis and the latest updates on market trends, viewers can watch the full episode of Morning Brief, where experts provide valuable insights into the ongoing situation and its potential effects on the oil market.

As the world watches anxiously, the focus now remains on the Middle East and the delicate balance between maintaining stability and guarding against any possible disruptions to the global oil supply.