Institution: If the Strait of Hormuz is no longer blocked, Brent crude oil futures may fall to $80 per barrel by the end of the year.

Vivek Dhar of the Commonwealth Bank of Australia stated in a research report that if the Strait of Hormuz is no longer blocked, Brent crude oil futures may fall to around $80 per barrel by the end of the year. "Our forecast implicitly assumes that oil and refined product exports can quickly resume through the Strait of Hormuz," the analyst said, pointing out that Iran and the United States have agreed to a temporary peace agreement. Dhar added, "It is worth noting that considering oil pipelines that bypass the strait and non-OPEC+ supply growth this year, oil supply through the Strait of Hormuz only needs to reach 60%-70% of pre-war levels to bring the oil market back to pre-war expectations of oversupply."