Standard Chartered: The two-week ceasefire agreement between the United States and Iran may have limited impact on energy supply.

Standard Chartered Bank's energy and metals research team stated in a report that the two-week ceasefire agreement between the US and Iran may have limited impact on energy supplies. The team of analysts said that security concerns, high insurance rates, and operational restrictions could mean that there will not be much additional energy transport through the Strait of Hormuz. They noted that liquefied natural gas shipments may be an exception, as recent reports indicate that LNG vessels have already been loaded and can set sail in a short amount of time. Despite the drop in oil prices following the ceasefire news, the Standard Chartered Bank team stated that this quick rebound may prove to be excessive. The team predicts that the average price of Brent crude oil futures in the second quarter will be $98.00 per barrel, and WTI crude oil will be $92.50 per barrel.