On April 20, crude oil prices saw a significant rebound, with Brent crude futures climbing $6.11 (6.76%) to $96.49 per barrel, and U.S. West Texas Intermediate rising $6.53 (7.79%) to $90.38. This increase comes after a 9% decline in the previous session, driven by renewed tensions in the Strait of Hormuz following accusations of ceasefire violations between the U.S. and Iran. U.S. President Donald Trump announced that American forces seized an Iranian cargo ship, while Iran responded by tightening its control over the strait and firing at vessels. The Strait of Hormuz is crucial, accounting for about 20% of global oil supply, and disruptions here have led to market volatility. Analysts from brokerage firm Macquarie suggest that even if tensions ease, oil prices could stabilize between $85 and $90, with potential increases towards $110 if disruptions continue. Nuvama Institutional Equities warns that if the strait remains closed, prices could escalate to between $110 and $150 per barrel.