Germany Commercial Bank: Brent crude oil falls to $91, but uncertainty remains

After the United States and Iran agreed to a two-week ceasefire agreement, a few ships began to leave the Gulf, and oil prices continued to fall. The price of Brent crude for June delivery fell by 16.2% to $91.56 per barrel, while the price of West Texas Intermediate for May delivery fell by 18.1% to $92.54 per barrel. However, analysts at Deutsche Bank said, "Market participants are still feeling unsettled because it is still unclear what will happen after 14 days." They added, "Oil prices are expected to remain above pre-crisis levels for the next two weeks." Market observers said that the terms for safe passage through the Strait of Hormuz are still unclear, and there is no guarantee that the negotiations between Washington and Tehran later this week will bring about lasting peace.