WTI crude futures fell below $95 per barrel on Friday, with prices down sharply from wartime highs after Trump announced a temporary US-Iran ceasefire on April 7.
Goldman Sachs credits the stability to a lower risk premium, destocking, and moderated spot buying, while investors expect a swift resolution to the conflict despite continued disruption in the Strait of Hormuz.
Prewar oil surpluses, reduced dependence on oil, and refinery maintenance season have cushioned prices, though experts warn a future spike remains possible if the unpredictable Iran war escalates again.
Is the oil market's 'stability' a sign of resilience or a dangerous illusion masking a severe crisis?
Why is the oil futures market ignoring the physical supply crisis unfolding in the Strait of Hormuz?
If physical oil prices have spiked, why haven't consumers felt the full economic pain yet?
With strategic reserves at a 40-year low, how vulnerable is the world to the next major oil shock?
How are Asian economies, cut off from Middle East oil, coping with the escalating energy emergency?
Beyond oil, how is the Hormuz closure crippling global agriculture and manufacturing supply chains?