Oil prices rise above $100 a barrel for first time since July as Iran war escalates - The Guardian
Oil prices rise above $100 a barrel for first time since July as Iran war escalates - The Guardian
Source: The Guardian
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DW NOTE
The Strait of Hormuz has been functionally closed since February, with 1.3 billion barrels of supply already lost and six months of mine-clearing ahead — yet oil only crossed $100 yesterday. Either the market spent seven months pricing in a miracle reopening, or the demand destruction from three years of monetary tightening is finally showing in something other than spreadsheets.