Oil Tops $100 as Supply Crisis Deepens
Crude oil prices were on course for a sizable weekly gain today, as the Strait of Hormuz remains almost entirely paralysed and the Yemeni Houthis target tankers in the Bab el-Mandeb Strait in the Red Sea. To make matters worse, Kazakhstan has suspended oil flows via the Caspian Pipeline Consortium s
Source: OilPrice.com
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DW NOTE
The headline says $100; the widget says WTI is at $90.53. That's the spread between what sells clicks and what trades on screens. Oil is up 14% in a week because the Strait of Hormuz reopened last month, not because it closed — the rally is recovery from panic, not panic itself.