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Back Fundamental analysis
Clearing the Strait of Hormuz May Take More Than 6 Months
Oil prices have risen for the
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Oil prices have risen for the fourth consecutive day as the US and Iran continue their struggle for control over the Strait of Hormuz after failing to conduct a new round of peace negotiations.The price of Brent crude oil approached the $103 per barrel mark after jumping nearly 13% over the last three trading sessions, while West Texas Intermediate was priced around $94. U.S. President Donald Trump stated yesterday that the ceasefire achieved on April 7 will remain in effect
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Miroslaw Bawulski,
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Maxim Magdalinin
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