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2026-04-08 23:24:40
[Analysis indicates that while the US-Iran ceasefire agreement has eliminated the panic premium in the oil market, geopolitical risk premiums remain.] Analysts at an energy consulting firm stated that the reopening of the Strait of Hormuz will be slow and complex, and the tension in the physical oil market is unlikely to ease quickly. Although the futures market has quickly adjusted its pricing to the ceasefire news, the near-month physical oil price spread is likely to remain firm, tanker freight rates remain high, and buyers of sulfur-containing crude oil will still need to pay a high premium to avoid the limited global supply from the Gulf region. The firm also lowered its 2026 Brent crude oil average price forecast from $97 per barrel to $87 per barrel.
