Oil prices are still expected to rise by more than 10 per cent from the $100 return line

On Friday, 24 July, Brent's crude oil futures fell by more than 3 per cent, following a break of $100. However, oil prices are still expected to rise significantly this week owing to the increased disruption of energy transmission in the Red Sea and concerns about the further escalation of the war in Iran, and a 10 per cent weekly increase is still being maintained. “The supply of crude oil has again been squeezed and prices have inevitably risen as a result of the continued United States attack on Iran, the further involvement of Houthi forces in the Red Sea and the interruption of the CPC pipeline.” According to Rystad analyst Janif Sha, it appears that the current disruption in the Strait of Hormuz is close to its peak in March. Kim Xian