world-economy

Oil Markets Brace for Extended Price Plateau Despite Middle East Accord

Crude prices are expected to remain elevated for months despite a U.S.-Iran peace framework taking effect. The tentative agreement, set for signing Friday in Geneva, will reopen the Strait of Hormuz and ease regional tensions that have pressured energy markets. However, the logistics and forwarding sectors cautioned that a full normalization of operations and a return to pre-conflict fuel levels remain distant prospects. Oil prices fell sharply Thursday and Friday ahead of the deal announcement, but analysts expect sustained pressure on rates. The transportation industry welcomed the accord as a step toward stability, though shippers should prepare for continued elevated fuel surcharges in the near term. Full market stabilization could extend well beyond the initial agreement signing.