Global oil prices remain below $150 per barrel despite Strait of Hormuz disruptions, as strategic reserves and demand shifts limit spikes.
Oil prices have failed to breach $150 or $200 per barrel despite the prolonged closure of the Strait of Hormuz, which removed over 10% of global crude supply. Analysts had warned of record-high prices in March, but crude has not sustained levels above $100.
The stability follows coordinated releases of 400 million barrels from strategic reserves, including IEA-coordinated stocks. Demand adjustments, particularly from China, have also played a critical role in offsetting supply losses, preventing a sharper rally.
Markets have absorbed the supply shock without panic, reflecting broader shifts in global oil dynamics and inventory management.