Oil prices surge after Trump issues warning to Iran - Fox Business
Source: Fox Business
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DW NOTE
Trump threatens Iran and crude jumps 19.5% in a month — which tells you the market already knows the Strategic Petroleum Reserve is an empty gesture and OPEC's spare capacity is a negotiating position, not a physical reality. When words move oil this much, the buffer is gone.
For the first four months of the war between the United States and Israel and Iran, oil traders remained largely bearish. The overwhelming expectation was that the war would end soon—even as July rolled around—and oil flows out of Hormuz would recover. Instead, the world is slipping into a fuel shor
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