Oil prices remain below $100 despite the Strait of Hormuz closure. New all-time high by September 30 at 18% YES.

Global oil prices are defying expectations, staying below $100 a barrel even after the Strait of Hormuz was effectively blocked. Record US oil exports and a significant drop in…

Oil prices remain below $100 despite the Strait of Hormuz closure. New all-time high by September 30 at 18% YES.

Oil prices are likely to rise further as the Strait of Hormuz remains closed, and once it opens, the market will take months to normalize.

Oil prices may average at around $87 per barrel in 2026 as the reopening of Strait of Hormuz in the coming months would ease crude supplies globally, says Fitch Ratings. Global…