Britain's "Economist" magazine reported that although tensions in oil markets have somewhat eased after the ceasefire between the US and Iran, this calm is deceptive. According to the magazine's report, energy markets are experiencing a crisis, and the situation has not stabilized as expected.
The editorial office reports that "Economist" emphasized in its report that after Iran's foreign minister declared the Hormuz Strait "completely open," prices for Brent crude oil fell by 10% on April 17. However, just a few hours later, Iran closed the strait again, which led to a 5% increase in prices in the next trading session.
According to "Economist," the greatest pressure will initially be felt in Asia, as it is the main destination for Gulf oil exports. Some Asian oil refineries have reduced their operating speeds due to a shortage of crude oil, while spot prices for gasoline, diesel, and jet fuel have increased.