Oil Set for Weekly Surge as US Seeks to Throttle Iran’s Economy - Energy Connects
Oil Set for Weekly Surge as US Seeks to Throttle Iran’s Economy - Energy Connects
Source: Energy Connects
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DW NOTE
The Strait of Hormuz has been effectively shut for four days — one ship passed through versus the normal seventy-three. Brent rose 7.5% this week to $93.60, still 21% below recent highs. When a chokepoint for a fifth of global oil remains closed and prices stay a fifth below their peak, you're watching demand destruction in real time.