Global oil prices are staying above $100. The main worry continues to be a possible blockade of the
Oil Holds Above $100 Despite U.S. Move to Unlock Stranded Russian Crude—Hormuz Fears Linger
Oil isn't backing down. Brent futures are holding above $100 a barrel, even after the U.S. cleared the way for countries to buy Russian crude currently stranded at sea. The logic? More supply should cool prices. But markets aren't buying it—not yet.
Swissquote's Ipek Ozkardeskaya puts it bluntly: "These quick measures are unlikely to ease the pressure." The real fear is still the Strait of Hormuz, where a blockade threatens a huge chunk of global oil flows. Treasury Secretary Bessent is pushing for an international coalition to escort tankers "as soon as military conditions permit." Problem? Iran's new leader says the strait stays closed. For now, oil traders are watching the water, not the news.
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