Oil Prices Climb as Strait of Hormuz Reopening Timeline Stalls

While the U.S. and Iran move toward finalizing a peace deal in Switzerland this Friday, the path to restoring global energy flows appears far more complex. Stefan Arsenovic, CEO of Eleonex, noted that the normalization process is unlikely to be immediate, citing persistent security constraints and the necessary clearance of maritime routes. This expected gradual recovery in oil volumes acts as a floor for prices, curbing the downward correction many traders anticipated.

Front-month West Texas Intermediate crude rose 0.3% to $81.01 a barrel, while Brent crude gained 0.2% to $83.34. Beyond the energy sector, Asian equity markets showed little conviction, with Japan’s Nikkei remaining flat, Malaysia’s FTSE Bursa Malaysia KLCI dipping 0.2%, and South Korea’s Kospi edging up 0.8%. With one-fifth of global oil supply typically moving through the strait, the disconnect between diplomatic rhetoric and logistical reality keeps the market on edge.