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

MeNews · 2026-04-08T09:55:10+00:00

The market’s hopes for de-escalation in the Iran war have been boosted, but tensions remain ongoing, and navigation through the Strait of Hormuz is still restricted. Analysts noted that although the crude oil price has fallen, Brent crude oil futures are still holding at about $100 per barrel, indicating a lack of market confidence.

MeNews

2026-04-08 09:55:10

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ME News message, April 1 (UTC+8). Hopes that the Iran war could de-escalate are encouraging, but it may be too early, as tensions remain elevated and shipping through the Strait of Hormuz is still restricted. Forex.com market analyst Fawad Razaqzada said: “We see crude oil pull back, but Brent crude oil futures are holding around $100 per barrel, which suggests the market is not fully convinced yet. Without a clearer opening timeline—more importantly, without credible information—it’s hard to see oil prices continuing to fall below $100.” (Jin10) (Source: ODAILY)

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