Natural Gas and Oil Forecast: Oil Surges 5% as Hormuz Ceasefire Fails — Is $100 Brent Next?

Oil prices jumped 5% on April 20 after Iran reportedly re-closed the Strait of Hormuz following a US cargo ship seizure, raising immediate supply disruption risk. The move is highly relevant for crude benchmarks such as WTI and Brent, with implications for global shipping and broader energy markets.

Analysis

Oil prices jumped 5% on April 20 after Iran reportedly re-closed the Strait of Hormuz following a US cargo ship seizure, raising immediate supply disruption risk. The move is highly relevant for crude benchmarks such as WTI and Brent, with implications for global shipping and broader energy markets.