Oman's crude rises $19.09 to $123.93

Muscat: The Oman crude increased by $19.09 to $123.93 per barrel on Tuesday for the May 2026 delivery.

Oil prices slipped on Tuesday, and stocks were mixed as investors weighed a report indicating Donald Trump was willing to end the Iran war even if the key Strait of Hormuz remained closed, but also threatened to strike its energy infrastructure if it did not make a deal.
The Wall Street Journal cited administration officials as saying the US president and his aides had come to the conclusion that a mission to reopen the waterway would extend the length of the conflict past his four- to six-week timeline.
It added that he had decided to focus on battering Iran's missiles and navy, before looking to pressure Iran diplomatically to reopen the strait.
In a sign that Trump will likely face pressure to act to bring crude prices down, the American Automobile Association said US gas prices jumped above an average of $4 a gallon for the first time since 2022 in the aftermath of Russia's invasion of Ukraine.  

The warning from deVere Group's Nigel Green comes as Brent crude climbs to around $115 a barrel—up nearly 60% in March alone, the steepest monthly rise since the Gulf War—while global equities fall sharply and supply routes through the Middle East face unprecedented disruption.

 He says, “Brent at $115 is being treated as a spike. The data tells a different story.

 “Prices are up close to 60% in a single month, options markets are actively pricing scenarios of $150 oil, and up to 20% of global supply has been disrupted through the Strait of Hormuz. Those are not conditions associated with a short-lived shock.”

 Oil markets are reacting to a combination of escalating military activity, infrastructure damage, and direct threats to one of the world’s most critical energy chokepoints. The Strait of Hormuz has seen traffic collapse and shipments stranded, with millions of barrels per day effectively removed from global supply.

 He continues: “We’re looking at a potential loss of 10 to 14 million barrels per day if disruption persists, in a market where global demand sits just above 100 million barrels. That gap cannot be easily filled.