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StanChart: $95 Per Barrel Is The New Oil Price Equilibrium
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Neutral
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94%
Time Horizon
Short Term
Article Context
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Oil prices were rallying again on Wednesday after Iran's Islamic Revolutionary Guard Corps (IRGC) captured two commercial vessels in the Strait of Hormuz. Brent crude for June delivery gained 2.99% to trade at $101.40 per barrel at 3.49 pm ET, while the corresponding WTI crude contract was up 3.18% to change hands at $92.52/bbl. Iranian state media reported that the vessels violated maritime regulations, operated without permits, and tampered with navigation systems. The IRGC identified the seized ships as Panama-flagged MSC Francesca and Liberia-flagged…
Original article published by
OilPrice.com
on April 23, 2026.
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