Analysis: With the prospects for the reopening of the Strait of Hormuz remaining unclear, oil prices are exhibiting a tug-of-war trend.

CoinFeed, May 5th - According to Jinshi News, crude oil futures prices continued to fluctuate as the market awaited clarity on the prospects for the reopening of the Strait of Hormuz. Analyst Nikos Chabras stated in a report that the recent resurgence of hostilities could undermine the ceasefire agreement, thus maintaining the risk premium. He added that while crude oil prices could still reach new highs as the conflict continues, a prolonged energy shock exacerbates the risk of demand destruction, "which could ultimately unsupport the crude oil rally."