If the Strait of Hormuz doesn't open soon, as seems likely, there will be a massive economic crash

[WSHazel]

8. Demand destruction

There is significant demand destruction that kicks in at $100/barrel, and it will go up as the price of oil goes up. A lot of that demand destruction will never return. This is why the Gulf States are working so hard to end run the Strait, and why the UAE dropped out of OPEC. The other side of this crisis is going to be over-supply.

I believe one of the key reasons that Trump started this conflict was to increase energy prices which would help U.S. producers and improve the trade deficit since the U.S. is a net exporter. It is a phenomenally stupid strategy, because the back end of this is lower oil prices than pre-conflict, which will crush U.S. producers who have some of the highest production costs in the world, but Trump doesn't care about the long or even intermediate term.