CrudeFriday, 10 April 2026·India
Crude Edges Closer to $100 as Ceasefire Uncertainty Fuels Market Tension
Oil prices moved higher in early Asian trading as renewed regional tensions and growing skepticism over the Iran ceasefire pushed markets upward. Traders are increasingly doubtful about the durability of the agreement, keeping supply concerns firmly in focus.
At the latest levels, WTI was trading near $99 per barrel with a gain of over 1%, while Brent crude approached the upper $90 range with a moderate increase.
On the supply front, Saudi Arabia confirmed that recent attacks have impacted its production capacity by around 600,000 barrels per day. Additionally, flows through the East-West pipeline have been reduced by roughly 700,000 barrels per day, adding further strain to supply routes. The situation has also resulted in casualties linked to energy infrastructure strikes.
Elsewhere in the region, Kuwait reported fresh drone activity targeting critical facilities. Iran, however, has denied involvement in any attacks following the ceasefire agreement.
Tensions remain high in Lebanon, where ongoing strikes have continued despite diplomatic signals. Israeli leadership has stated that no ceasefire is in place in the region, even as discussions with Lebanese authorities reportedly begin. Recent clashes have led to significant casualties, highlighting the fragile security environment.
The ceasefire between the United States and Iran also appears unstable, with both sides expressing concerns over compliance. Disagreements over oil transit through the Strait of Hormuz and broader geopolitical issues continue to weigh on the situation.
Shipping activity through the key waterway remains limited, with only a small number of vessels passing through since the agreement was announced. This has weakened expectations of a quick recovery in global oil supply.
With peace talks expected to take place soon, markets are closely watching developments. However, ongoing disputes and continued disruptions suggest that oil prices may remain under upward pressure until supply flows stabilize.
Stay ahead of market trends with the Credco app. For any queries, please reach out via WhatsApp at +91 8448083211.
At the latest levels, WTI was trading near $99 per barrel with a gain of over 1%, while Brent crude approached the upper $90 range with a moderate increase.
On the supply front, Saudi Arabia confirmed that recent attacks have impacted its production capacity by around 600,000 barrels per day. Additionally, flows through the East-West pipeline have been reduced by roughly 700,000 barrels per day, adding further strain to supply routes. The situation has also resulted in casualties linked to energy infrastructure strikes.
Elsewhere in the region, Kuwait reported fresh drone activity targeting critical facilities. Iran, however, has denied involvement in any attacks following the ceasefire agreement.
Tensions remain high in Lebanon, where ongoing strikes have continued despite diplomatic signals. Israeli leadership has stated that no ceasefire is in place in the region, even as discussions with Lebanese authorities reportedly begin. Recent clashes have led to significant casualties, highlighting the fragile security environment.
The ceasefire between the United States and Iran also appears unstable, with both sides expressing concerns over compliance. Disagreements over oil transit through the Strait of Hormuz and broader geopolitical issues continue to weigh on the situation.
Shipping activity through the key waterway remains limited, with only a small number of vessels passing through since the agreement was announced. This has weakened expectations of a quick recovery in global oil supply.
With peace talks expected to take place soon, markets are closely watching developments. However, ongoing disputes and continued disruptions suggest that oil prices may remain under upward pressure until supply flows stabilize.
Stay ahead of market trends with the Credco app. For any queries, please reach out via WhatsApp at +91 8448083211.