Oil prices well below $100 as Strait of Hormuz reopens but experts aren’t convinced just yet. Here’s why

Posted 4 hours ago by

Economic Times

Global markets are breathing easier as Iran declares the Strait of Hormuz fully open, a crucial oil route, amid a potential U.S.-Iran deal. This development, coupled with a Lebanon-Israel ceasefire, has sent oil prices plummeting. While experts see a temporary reprieve, concerns linger over Iran's nuclear program and sanctions, suggesting oil prices may remain elevated.