What will happen after the blockade of the Strait of Hormuz? Expert: Brent crude oil may exceed $80 for the first time.

Wang Lei, Assistant Research Fellow at the Institute of World Economy and Politics of the Chinese Academy of Social Sciences, stated in an interview that with Iran's announcement of closing the Strait of Hormuz, some oil tankers have temporarily halted passage. It is highly likely that international oil prices will "gap up" at the opening on Monday, with Brent crude possibly breaking through $80 first. He pointed out that completely and continuously shutting down the strait is a "high leverage and high self-destructive behavior" for Iran. Considering the superior military advantages of the US, in the short term, it is more likely to see "gray zone blockades and strong disturbances" - lower passage efficiency, skyrocketing freight and insurance fees. As for the price of gold, if the escalation of conflict triggers concerns about recession, gold is expected to rise significantly. Asian net energy-importing countries will face direct pressure, and industries such as aviation and shipping will be significantly affected.