Synopsis
Oil prices are rising again. Peace talks between Iran and the United States have stalled. Trade through the Strait of Hormuz remains restricted. Iran seized two ships in the strait. The United States maintains its naval blockade. Analysts predict prices could remain high. The disruptions could push Brent prices even higher. The market faces ongoing uncertainty.
ETMarkets.comOil prices climbed on Thursday, fueled by stalled peace talks between Iran and the United States and continued trade restrictions in the Strait of Hormuz.Oil price extended their gains on Thursday, building on a strong rally in the previous session as stalled peace negotiations between Iran and the United States kept markets on alert. Both countries continue to restrict trade flows across the Strait of Hormuz.
Adding to concerns, Iran seized two ships in the strait on Wednesday, tightening control over the passage. The United States maintained its naval blockade on Iranian trade, while Iranian parliament speaker and chief negotiator Mohammad Baqer Qalibaf said a complete ceasefire would only be meaningful if the blockade was lifted.
Crude oil prices on April 23
Brent crude futures slipped 15 cents to $101.76 a barrel, after closing above $100 on Wednesday for the first time in more than two weeks. West Texas Intermediate Futures also fell slightly by 14 cents to $92.82.
Both benchmarks jumped more than $3 on Wednesday, supported by larger-than-expected declines in U.S. gasoline and distillate inventories, as well as continued impasse in diplomatic negotiations.
Although US President Donald Trump extended the ceasefire following Pakistan’s mediation efforts, tensions remain unresolved. Iran and the United States still restrict the movement of ships through the Strait of Hormuz, a critical route that previously carried about 20% of global oil and LNG flows before the conflict began in late February with U.S. and Israeli strikes against Iran.
Markets remain highly responsive to geopolitical signals, with price movements driven more by sentiment than by concrete improvement in supply. Limited vessel activity in the strait highlights continued uncertainty. Even if tensions ease, a complete normalization of flows should take several months.
Macquarie estimates that crude prices could remain supported in the $85-$90 range in the near term, with a gradual rise to $110 as supply conditions improve. He also warned that prolonged disruptions into April could push Brent prices up to $150 a barrel.
Analysts believe that the market could enter a phase of structurally higher prices. With the ceasefire seen as temporary, a return to pre-conflict levels of between $70 and $75 may not happen quickly. In the short term, prices are expected to move in a range between $80 and $85 on the downside and between $95 and $100 and above on the upside.
Nuvama Institutional Equities added that a prolonged closure of the Strait of Hormuz, which carries around 20 million barrels per day, could push crude prices into the $110-$150 range.
(Disclaimer: The recommendations, suggestions, views and opinions expressed by the experts are their own. These do not represent the views of The Economic Times.)
(What’s moving Sensex And Clever Track latest market news, stock market advice, Budget 2025, Equity market on the 2025 budget And expert adviceon AND Markets. Additionally, ETMarkets.com is now on Telegram. For the fastest news alerts on financial markets, investment strategies and stock market alerts, subscribe to our Telegram feeds .)
Subscribe to AND Bonus and read it Electronic document on economic times Online.and Sensex today.
Most trending stocks: SBI share price, Axis Bank share price, HDFC Bank share price, Infosys share price, Wipro stock price, NTPC stock price
…moreless
(You can now subscribe to our ETMarkets WhatsApp Channel)
(What’s moving Sensex And Clever Track latest market news, stock market advice, Budget 2025, Equity market on the 2025 budget And expert adviceon AND Markets. Additionally, ETMarkets.com is now on Telegram. For the fastest news alerts on financial markets, investment strategies and stock market alerts, subscribe to our Telegram feeds .)
Subscribe to AND Bonus and read it Electronic document on economic times Online.and Sensex today.
Most trending stocks: SBI share price, Axis Bank share price, HDFC Bank share price, Infosys share price, Wipro stock price, NTPC stock price
…moreless
