Oil Prices Week Ahead: Brent Near $113 With Hormuz Talks, Houthi Risk and OPEC+ in Focus
Brent crude closed at $112.57 a barrel Friday, up 4.2%, and WTI at $99.64, up 5.5%, as traders doubted a quick Gulf ceasefire. Houthis’ entry into the conflict has nearly halted flows through the Strait of Hormuz, causing the largest supply disruption on record, according to the IEA. Two Chinese ships turned back Friday, and tanker traffic remains limited. OPEC+ meets April 5 to review output.