The past few days have been a wild ride for the global oil markets. After news emerged Sunday that Iran closed shipping lanes in the Strait of Hormuz for the first time in history, halting oil and gas transport, oil prices skyrocketed to $120 a barrel. More troubling than the prices has been the prospect of a long-lasting shortage in global oil supply, as well as in fertilizer, posing the risk of major shockwaves through the global economy. Since Sunday, oil prices have fluctuated wildly, driven by news of ships being attacked, Iran placing mines in the Strait, the International Energy Agency’s decision to release 400 million barrels of reserve oil and U.S. officials giving often conflicting statements on how long the war might last….