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

MeNews · 2026-04-08T18:54:10+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 18:54:10

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ME News update, on April 1 (UTC+8), hopes that the Iran conflict will 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 retreat, but Brent crude futures are staying around $100 per barrel, which shows the market is not yet fully convinced. Without a clearer opening timeline, and more importantly, lacking credibility, it’s hard to see oil prices continuing to fall below $100.” (Jin 10) (Source: ODAILY)

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