WTI Price Forecast: Fails ahead of $100.00 amid Straight of Hormuz reopening efforts

AI Briefing

• – WTI Crude Oil prices retreated from a one-week high of $100.00, amidst efforts to reopen the Strait of Hormuz after its closure due to US-Iran tensions.
• – The Strait of Hormuz's reopening is expected to ease supply chain disruptions and add to the bullish sentiment in the oil market.
• – WTI prices are expected to remain below $100.00 until further supply chain disruptions are resolved.