Oil Prices Remain High Amid Uncertainty Over Iran Conflict

Hopes for a de-escalation in the Iran conflict are encouraging, but tensions remain elevated, and navigation through the Strait of Hormuz is still restricted. According to Odaily, Forex.com market analyst Fawad Razaqzada noted that while crude oil prices have retreated, Brent crude futures are holding around $100 per barrel, indicating that the market is not yet fully convinced. Without a clearer timeline for reopening and, more importantly, a lack of credibility, it is difficult to foresee oil prices consistently falling below $100.