Oil Prices Surge to $110 as Strait of Hormuz Closure Threatens Global Recession with Critical Trade Disruptions
📈 Oil prices surged to $110 per barrel following the US-Israel-Iran conflict, closing the Strait of Hormuz and threatening a global recession if prolonged beyond 2-3 months. The Strait manages 20% of global oil supply. In February 2026, Rio's Carnival propelled a 48% RevPAR increase year-over-year, peaking at BRL 2,491.14. The global coliving market reached $7-8 billion, with 15-20% projected growth annually through 2030, driven by remote work and high housing costs.
Share
