Analyst: Uncertainty about the Strait of Hormuz's navigation makes it unlikely for oil prices to continue falling below $100.

Odaily · 2026-04-01T21:06:44+00:00

Odaily Planet Daily reported that market hopes for de-escalation of the Iran war are encouraging, but it may be premature as tensions remain high and shipping through the Strait of Hormuz is still restricted. Forex.com market analyst Fawad Razaqzada said, “We see crude oil retreating, but Brent futures staying around $100 per barrel indicates that the market is not fully convinced. Without a clearer timeline for reopening and more importantly, a lack of credibility, it’s hard to see oil prices consistently falling below $100.”(Jin10)

Odaily

2026-04-01 21:06:44

Odaily Planet Daily reports: Market hopes for a de-escalation in the Iran war are encouraging, but it may be premature, as tensions remain elevated and navigation through the Strait of Hormuz is still restricted. Forex.com market analyst Fawad Razaqzada said: “We have seen crude oil pull back, but Brent crude futures are holding around $100 per barrel, which indicates the market is not fully convinced yet. Without a clearer timetable for reopening—and more importantly, without sufficient credibility—it is difficult to see oil prices sustaining a drop below $100.” (Jin10)

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