Oil prices face extreme volatility this week as President Trump's deadline for a deal with Iran approaches. A ceasefire could lower crude prices, while escalation risks a sharp increase.
- President Trump's deadline for Iran to reopen the Strait of Hormuz is Monday.
- Brent crude has risen nearly 80% in 2026 to almost $110 a barrel.
- WTI has climbed nearly 95% to over $112 a barrel.
- A coordinated 400 million barrel release from global emergency stockpiles has had limited impact.
- Analysts estimate continued conflict could push crude prices to $150-$200 a barrel.
- A ceasefire would likely ease prices, though a full recovery would take time.
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