Talks between US and Iranian officials are set to begin in Islamabad, Pakistan. However, due to the continued military activity of Israel in Lebanon, the situation remains fragile. In this regard, Razaqzada described two key scenarios that could unfold in the coming days and weeks. In the best-case scenario, with easing tensions, the reopening of the Strait of Hormuz and a recovery in crude oil supply, oil could start moving towards the $90 level, the analyst projects. On the other hand, the worst-case scenario would involve the collapse of the ceasefire, which could lead to a new surge in crude oil prices above $100, reaching up to $120 depending on the severity of the situation.
