‘We worry now’: Oil tops $100, diesel hits record highs amid Iran war escalation - Fortune
‘We worry now’: Oil tops $100, diesel hits record highs amid Iran war escalation - Fortune
Source: Fortune
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DW NOTE
The Strait of Hormuz has been effectively closed since February 28. A June ceasefire briefly allowed 513 ships through in 18 days, then collapsed. By August 30, only 6 ships transited versus a normal 85 per day. WTI is at $95.70 and Brent at $100.84 — not a sudden shock, but the overdue pricing of a seven-month supply disruption that markets spent months pretending was temporary.