U.S. Defense Secretary Pete Hegseth issued a stern warning to Iran, advising the nation to 'choose wisely' regarding a potential peace deal, or face military repercussions targeting its infrastructure. This warning comes as Gulf and European officials suggest that reaching an agreement may take up to six months, a timeline that significantly influences oil traders. The Pentagon has committed to maintaining pressure on Iran, with Hegseth stating that the blockade of Iranian ports will persist indefinitely. He noted that the U.S. Navy is currently utilizing only 10% of its naval capacity in the strategic Strait of Hormuz. As a result of these developments, Brent crude oil prices have stabilized above $94 per barrel. Prediction markets reflect a growing expectation for a ceasefire extension, with an 80% chance that the current truce will be prolonged by April 21. Meanwhile, major energy companies like Exxon and Chevron are adjusting their stock prices in response to the ongoing geopolitical tensions. If the situation extends into October, the war premium on oil prices is likely to increase, affecting global energy markets.