Iran Eyes $130 Oil While at Least 50 Tankers Sit Stuck in the Gulf
An oil price of $130 per barrel could be one of the scenarios of Iran’s economic planners preparing the budget for the next Iranian year starting March 2027, according to Iranian media. It is not clear yet what baseline Iranian economists will use in next year’s budget, but the Plan and Budget Orga
Source: OilPrice.com
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DW NOTE
Iran's disruption of Hormuz has WTI at $99.77, ten per cent below this year's peak — not exactly the supply panic Tehran was counting on. The strait has been effectively closed for ten days, yet oil is falling, not rallying. That's demand destruction outrunning geopolitical premium, which means the market doesn't believe $130 is coming either.