Par4QC Having a solid education in math, and a very reliable abacus*, the rising price of oil should not go very much higher.
Only 20% of the world's oil passes thru that strait. Thus, prices should only rise +20% of what they were prior to the blockage.
Don't blame your "solid education in math" or your abacus. There's a big difference between how much oil is produced in Iran and how much is shipped through the state of Hormuz.
"There is a significant difference. Iran produces oil for both domestic consumption and export, while the Strait of Hormuz acts as the primary export route for roughly 90% of its crude sales, with about 20 million barrels per day (mb/d) of total global oil passing through. Iran exports around 2.6 mb/d, mainly to China, and relies on this bottleneck for nearly all of its oil sales."
As well, it seems you believe that those who control the global supply of oil care that there profits will be commensurately reduced. That's not even funny.