Oil Price Today (July 21): Crude oil dips below $90 on hopes of 10-day ceasefire in Iran war. What are experts saying?

Crude oil prices slipped below $90 on July 21 on hopes of a 10-day ceasefire in the Iran conflict, with Brent at $88.87/barrel (down 0.4%) and WTI nearly flat at $82.47/barrel. Goldman Sachs warned Brent could rise above $110 in Q4 if Gulf oil export recovery is delayed but expects a fall to the $60s if tensions ease, while Nuvama cautioned that an extended Strait of Hormuz closure could disrupt 20 million barrels/day and push prices to between $110 and $150.