Brent oil prices to trade in a volatile range
Brent oil is currently near $81 and West Texas Intermediate is at $76.30.
The forecast for Brent is to trade between $70-$100.
Geopolitical tensions and disruptions at the Strait of Hormuz are driving the price movements.
A short-term deal to open up the Strait of Hormuz for commercial shipping is unlikely, which could lead to further price volatility.