Analyst: Uncertain Navigation in the Strait of Hormuz May Keep Oil Prices High

Golden Ten Data reported on April 1 that market hopes for a de-escalation of the Iran conflict are encouraging, but may be premature, as tensions remain high and navigation through the Strait of Hormuz is still restricted. Forex.com market analyst Fawad Razaqzada stated: “We are seeing a pullback in crude oil, but Brent crude oil futures are holding at around $100 per barrel, indicating that the market is not fully convinced yet. Without a clearer timetable for reopening—more importantly, without credibility—it is difficult to see oil prices consistently fall below $100.”