Oil prices are soaring! Will they really break $100 this time?

Recently, oil prices have been going crazy!
Brent crude has already surged to $92.87 per barrel, with a weekly increase of 27.88%, the largest weekly gain since 1991.
Why are oil prices rising so sharply all of a sudden?
The main reason is: the Strait of Hormuz is "blocked." Over 90% of the oil exports from major Gulf countries need to pass through the Strait of Hormuz. If the shipping routes are cut off, prices will naturally rise.
Will oil prices spiral out of control?
This is everyone's biggest concern. Experts predict:
In the short term (1-2 weeks): Brent crude could rise above $100 per barrel
If the blockade lasts more than 3 weeks: Brent crude could reach $100–120 per barrel
In the worst case: According to Barclays, if the Middle East conflict continues for several weeks, Brent crude could test $120 per barrel
How does this affect our daily lives?
Fuel costs: Drivers will see their wallets get lighter
Inflation pressure: Rising oil prices will further push up the US CPI, and prices may follow
Transportation costs: After rerouting, daily rental rates for oil tankers could rise to $80,000, and delivery fees might also increase
But don’t panic too much!
History shows that without war, oil prices are actually hard to keep rising indefinitely. Why?
Global economic growth is slowing down, and oil demand is already weak
More electric vehicles are on the road, reducing dependence on gasoline
OPEC+ and other oil-producing countries will adjust supply to prevent prices from skyrocketing
This sudden surge in oil prices is mainly due to short-term panic caused by geopolitical conflicts. The key is when the Strait of Hormuz can resume navigation. If it reopens quickly, prices will fall back; if the blockade lasts longer, prices could really break $100.