Al Jazeera analysts warn that if the US-Iran war escalates and the Strait of Hormuz is completely shut, global emergency oil stocks, currently at multi-decade lows, may only last one to two months. Brent crude has already climbed to $110.85 a barrel, near a five-month peak, driven by increased attacks on tankers in the Strait. The world's strategic oil reserves have fallen to their lowest levels in decades, with the US Strategic Petroleum Reserve (SPR) at 283 million barrels, its lowest since October 1982. Analysts estimate only about 400 million barrels of usable reserves remain worldwide (excluding China's stockpile), with nearly half in Japan. If Hormuz were shut and Houthi attacks blocked Bab al-Mandeb, a shortfall of about 9.3 million barrels a day of Middle Eastern crude could occur, potentially pushing oil prices to $150 a barrel and causing significant demand destruction.