Oil prices could surge past $90 per barrel if the shipping disruptions through the Strait of Hormuz caused by the ongoing Middle East conflict persist, according to UBS analysts. Current WTI futures were trading around $88.85 per barrel on Friday, with Brent crude at $85.31, both showing weekly gains of 4% and 5.3% respectively. The analysts, including Mark Haefele and Giovanni Staunovo, caution that sustained disruptions to this critical oil transit route could push prices significantly higher. The Strait of Hormuz handles roughly 20% of global oil supply, making its closure a major concern. To alleviate some market pressure, the U.S. announced a 30-day waiver allowing Russian oil sales to India, while the Treasury is reportedly developing measures to corral energy prices through financial markets.