Can the oil market survive a forever war with Iran? - CNN
Can the oil market survive a forever war with Iran? - CNN
Source: CNN
―
DW NOTE
The oil market can't survive a forever war with Iran — it's just taking time for the price to reflect the supply destruction. WTI at $99.76 is still 60% higher than last year, but it's also 12% below this year's peak despite the Strait of Hormuz being closed for two months and global supply down 4.3 million barrels per day. Either traders believe this ends soon, or they haven't priced what happens when Strategic Petroleum Reserves run out.