Strait of Hormuz Must Reopen Within Weeks to Avoid Market Crisis

Global Oil Markets Face Major Shock if Strait of Hormuz Remains Closed

Reopening the Strait of Hormuz within the next three to four weeks is crucial to prevent a major shock to global oil markets and the wider economy, warned Jonathan Wilmot, Global Strategist at Aletheia Capital. Speaking at the Global Wealth Summit 2026 on March 14, Wilmot emphasized that conditions on the ground can change very quickly, making it essential to have a concrete plan to reopen the straits.

Economic Stakes are High Failure to reopen the strait could push oil prices above $150 a barrel, a level that, although lower than the peak seen in 2008, could still precipitate broader financial stresses. These could include credit issues and pressures in private credit markets. Wilmot noted that failing to reopen the straits would be like pulling the plug on large parts of the global economy, exposing underlying fragilities.

Market Strategists Convene at Global Wealth Summit Leading market strategists, including Alessia Berardi, Head of Global Macroeconomics at the Amundi Investment Institute, and Sunil Tirumalai, Executive Director and GEM Equity Strategist at UBS, convened at the summit to analyze the forces reshaping global capital flows.

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