Oil Prices Near $100 as Hormuz Strait Remains Risky

Apr 10, 2026

58 min

Apr 10, 2026 05:30

Hormuz Strait 'toll': Oil prices drift back to $100/barrel mark — what it will take to get things going again

## Ceasefire Fails to Assure Shippers

Despite a two-week ceasefire, the Hormuz Strait remains a high-risk area for shipping, causing oil prices to approach $100 per barrel. The strait, a crucial passage for 20% of the world's oil, is still seen as dangerous by many shipping companies.

## Limited Vessel Movement

The ceasefire initially led to a drop in oil prices and a stock market boost, but only a few ships have dared to cross the strait since the agreement. Many tankers are still waiting in the Gulf, contributing to the rise in crude prices.

## Uncertainty and Safety Concerns

Shipping firms are hesitant to transit the strait without clear safety guarantees from Iran. Executives demand written assurances and guidance on safe routes and schedules. Hapag-Lloyd, a major shipping line, has opted to keep its vessels anchored rather than risk passage.

## Slow Recovery Expected

Analysts predict it could take over six months for shipping traffic to return to normal levels. Before the conflict, over 100 ships passed through the strait daily. Currently, only a few tankers have made the journey since the ceasefire, with hundreds still waiting in the region.

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