Oil prices are rising again: what are the reasons?
15 April 14:18
Oil prices were mixed on Wednesday, April 15: Brent rose, while U.S. crude fell. The market is in turmoil due to the closure of the Strait of Hormuz, which is disrupting stable supplies from the Middle East.
This was reported by Reuters , according to "Komersant Ukrainian".
Brent crude futures rose 40 cents to $95.19 per barrel, partially offsetting the previous session’s decline. Meanwhile, U.S. West Texas Intermediate crude fell 23 cents to settle at $91.05.
The main cause of market volatility remains the de facto closure of the Strait of Hormuz, a critically important route for fuel exports.
Market participants are closely monitoring statements from Washington regarding a possible resumption of negotiations between the U.S., Israel, and Iran. President Donald Trump announced that a meeting could take place in Pakistan within the next two days.
This has given investors hope for a de-escalation of the conflict and a gradual reopening of Iranian ports.
However, energy sector experts note that current optimism is based on expectations rather than actual progress in logistics.
Despite the diplomatic news, the actual oil market is experiencing an acute shortage of supply. Refineries are forced to seek alternative sources of supply in other regions due to the inability to transit freely through the Persian Gulf.
This has led to oil from the Gulf of Mexico and the North Sea trading at record premiums. In particular, the price of WTI Midland cargo in Rotterdam exceeded European benchmarks by $22.80 per barrel.
Currently, transit through the Strait of Hormuz remains uncertain, with traffic amounting to only a fraction of the approximately 130 vessels that used the waterway before the war, forcing markets to await new data on U.S. crude inventories for further price forecasting.
