Brent crude futures remained above $90 per barrel on [current date], supported by tensions in the Strait of Hormuz and a persistent geopolitical risk premium, according to ING analysts. The strait is a critical chokepoint handling roughly 20% of global oil consumption, so any threat to its security can raise concerns about supply shortages even when physical flows remain largely intact. Recent incidents and heightened military posturing have kept traders cautious and limited the scope for a significant price pullback. OPEC+ production cuts, strong demand in key consuming regions and declining inventories in major economies are also tightening the market balance. ING says prices are likely to remain elevated in the near term unless tensions ease, but warned that a resolution could cause a sharp correction as the risk premium unwinds. Traders are monitoring diplomatic efforts and changes in military posture. Sustained high oil prices can increase inflationary pressure in importing nations, potentially encouraging central banks to maintain tighter monetary policy. Higher fuel costs may reduce consumer purchasing power and discretionary spending, while the energy sector benefits from stronger prices but remains exposed to supply-disruption risks. The market therefore remains vulnerable to continued volatility, with the duration of prices above $90 dependent on geopolitical developments and the balance between supply concerns and actual flows.