The prospect of a ceasefire between the U.S. and Iran may not bring immediate respite to the escalating global fuel prices, warns a top energy analyst.
Patrick De Haan, head of petroleum analysis at GasBuddy, took to X on Monday to underscore that “A cease-fire itself would do little or nothing to impact oil prices directly, unless it directly and clearly impacts the current de-facto shutdown status of the Strait of Hormuz,” De Haan wrote.
Despite the Trump administration’s assurances that the heightened gas prices are a temporary issue for Americans amid the ongoing Iran war, De Haan indicated that the situation is not that straightforward.
He suggested that the ceasefire speculation has led to “premature …
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