Oil prices surged on Monday following the United States and Israel’s attacks on Iran this weekend, as some analysts predict that it could soon reach over $100 a barrel. There are worse scenarios for oil prices that could unfold in the coming days than just the closure of the strait. In September of 2019, drones hit major oil production facilities east of the Saudi Arabian capital of Riyadh. The attack temporarily shot oil prices up 15 percent. “If tankers abandon the Gulf trade in large numbers, and certainly if major oil infrastructure is damaged, we're likely to see triple-digit crude prices again.”