The oil shock, far from being resolved by the US-Iran agreement. Analysts warn that the volatility of oil prices will continue.

Although the markets recently welcomed the peace agreement between the United States and Iran, which could allow for the reopening of the Strait of Hormuz, analysts emphasize that the volatility of oil prices will persist.

Brent oil prices have dropped by over 5%, reaching approximately $82.8 per barrel, while WTI is around $80, the lowest level since March. Experts, such as Daniel Hynes from ANZ, believe that market optimism is unjustified, considering that global oil stocks, affected by the closure of the strait, will take time to be rebuilt. Ongoing issues, including security risks in the region and the need for ship maintenance, will complicate recovery. Hynes estimates that prices could exceed $90 per barrel in the third quarter, and Bart Melek from TD Securities warns that, even with the normalization of traffic, the market could lose 800 million barrels by November.