New Delhi, May 22 -- Global crude oil prices could rise to $200 per barrel in the worst-case scenario if the Strait of Hormuz remains closed, warned a report from Wood Mackenzie.

Global energy markets have been on edge since the start of the Iran war in February. Oil prices have shot up, sending shockwaves across the globe as worries mount around higher inflation and interest rate hikes.

The report elaborated three possible scenarios with different timelines on opening the Strait of Hormuz and the subsequent impact on oil and gas supply, prices, energy demand and the broader global economy.

The uncertainty around the Strait has put the supply chains at risk with repercussions that could hit economies hard. More than 11 million barrels ...