Crude oil prices are once again nearing the $100 mark as geopolitical tensions escalate, particularly surrounding the Iran ceasefire. On April 9, Brent crude futures rose by $3.69, or 3.9%, reaching $98.44 per barrel, while U.S. West Texas Intermediate crude increased by $3.47, or 3.7%, to $97.88. Investor anxiety is heightened by U.S. President Donald Trump's statements regarding military readiness in the region and ongoing strikes by Israel in Lebanon, which have raised concerns about the ceasefire's stability. With the Strait of Hormuz being a vital artery for global oil trade, carrying approximately 20% of the world's oil supply, any disruptions could lead to significant price increases. Analysts from Macquarie suggest that even if tensions ease, oil prices could stabilize in the $85–$90 range but may rise toward $110 if normal supply flows are not restored. The possibility of Brent crude reaching $150 per barrel remains if current disruptions continue, indicating a potential shift to a higher price regime for oil.