Oil prices are projected to remain between $85 and $90 per barrel, with a potential increase to $110, according to ChainCatcher. This forecast comes despite possible easing tensions following a statement by U.S. President Donald Trump on Monday. The full reopening of the Hormuz Strait is necessary for prices to stabilize.
If the strait remains closed, Brent crude prices could reach $150 per barrel by the end of April, with refined oil prices expected to be 200% higher than pre-conflict levels.
Currently, oil transport through the strait is at 1.5 million barrels per day, significantly lower than the normal 15 million barrels per day, indicating a daily supply shortfall of 13.5 million barrels.