Institution: Oil prices may remain volatile in the short term.

Phillip Nova's Priyanka Sachdeva stated in a report that oil prices may remain volatile in the short term. She said, "The threat of blockades only in the vicinity of the Strait of Hormuz has already shown how fragile the global supply chain still is." She said investors should closely monitor the results of ceasefire negotiations, shipping activity through the strait, oil tanker movement data, and macroeconomic indicators such as inflation data.