World oil prices regain upward momentum.

In afternoon trading on March 24, world oil prices rose again as investors reassessed supply risks after Iran denied talks with the US.

Refueling vehicles at a gas station in Seoul, South Korea. Photo: THX/VNA

This development stands in stark contrast to US President Donald Trump's statements about the possibility of reaching an agreement soon to end the conflict in the Gulf, pushing markets into a state of caution amid the risk of prolonged supply disruptions.

At 2:10 PM Vietnam time, Brent crude futures rose $2.89 (2.9%) to $102.83 per barrel, while West Texas Intermediate (WTI) crude rose $2.49 (2.8%) to $90.62 per barrel. Earlier, on March 23rd, oil prices had fallen by more than 10% after the US President ordered a five-day halt to attacks on Iranian power plants and affirmed that the two sides had reached important points of agreement.

Tim Waterer, chief market analyst at KCM Trade, noted that the temporary halt to planned attacks on Iran's energy infrastructure has removed much of the conflict risk premium from oil prices. However, the current recovery suggests traders are aware that even with the missile attacks temporarily suspended, the Strait of Hormuz remains an unobstructed waterway. The ongoing conflict has disrupted the shipping of approximately 20% of global oil and liquefied natural gas.

Faced with the current supply shortage, the US government has temporarily exempted Russian and Iranian oil currently in transit from sanctions. In addition, the Managing Director of the International Energy Agency (IEA), Fatih Birol, stated that the agency is consulting with Asian and European governments on the possibility of further releasing strategic reserves if necessary.

Forecasting market developments, Macquarie Financial Group predicts that even if tensions show signs of easing, oil prices will remain at a floor of $85-90 per barrel and tend to return to the $110 range until operations in the Strait of Hormuz are fully restored.

Macquarie warned that if the strait remains closed until the end of April, Brent crude oil prices could reach $150 per barrel. Priyanka Sachdeva, senior market analyst at brokerage firm Phillip Nova, added that the market is preparing for disruption lasting at least until April, a factor that will continue to support Brent crude prices and maintain global inflationary pressure.

Source: https://baotintuc.vn/thi-truong-tien-te/gia-dau-the-gioi-lay-lai-da-tang-20260324152304594.htm