Mumbai, April 8 -- In its latest monthly oil report released yesterday, the U.S. Energy Information Administration highlighted that global oil markets have entered a phase of heightened volatility, driven by geopolitical tensions disrupting flows through the Strait of Hormuz. Brent crude averaged $103 per barrel in March and is projected to surge to a peak of $115 in Q2 2026, supported by supply disruptions and a persistent war-driven risk premium. However, prices are expected to gradually ease, falling below $90 by late 2026 and averaging $76 in 2027 as production outages subside. The Brent-WTI spread widened to $12 per barrel in March and is forecast to peak near $15, reflecting higher shipping costs and constrained Middle East supply imp...