On April 24, oil prices continued their upward trend, marking a five-day rally due to rising tensions in the Middle East. Brent crude futures climbed $1.23 to $106.30 per barrel, while West Texas Intermediate increased by $1.07 to $96.92. This surge follows Iran's recent military actions, including the boarding of a cargo vessel in the Strait of Hormuz, which has raised concerns about potential disruptions in oil supply. U.S. President Donald Trump commented on Iran's military capabilities, suggesting that they could be neutralized quickly if necessary. Experts from Haitong Futures and Macquarie have indicated that if U.S.-Iran negotiations do not progress by the end of April, oil prices could reach new highs, potentially soaring to $150 per barrel. The Strait of Hormuz is crucial for oil transport, carrying about 20 million barrels per day, and any extended closure could significantly impact the global oil market.