The Strait of Hormuz remains restricted for navigation, and Brent crude oil futures are holding above $100

GateNews

2026-04-01 14:02:55

Gate News reports that on April 1, while market expectations for a downgrade in the Iran war situation have warmed somewhat, navigation through the Strait of Hormuz is still restricted, and tensions have not been fully resolved yet. Brent crude oil futures (the international crude oil benchmark price) are currently holding at around $100 per barrel, indicating the market is still waiting for signs of improvement in the situation. Forex.com market analyst Fawad Razaqzada noted that in the absence of a clear timetable for the Strait of Hormuz to be opened and a credible basis, oil prices are unlikely to sustainably fall below $100.

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