Goldman Sachs has modeled [music] oil potentially hitting $150 a barrel this year, tied to ongoing disruptions in the straight of Hormuz, one of the most critical choke [music] points in global energy supply.

The blocking of the Strait of Hormuz will cause an enormous increase in the price of energy, oil, and gas, with knock-on impacts on food and fertilizer prices.

The Strait of Hormuz remains largely closed, oil prices remain above $100 per barrel, and normal commercial shipping has halted.