Crude Oil
Why oil prices aren't crazy after 5 months of US/Iran war
Analysts predicted that the price of crude could rise to $150 per barrel, or even $200. This would result in the fifth of the global oil supply, which transits through the Strait of Hormuz, being cut off from the world market. Brent crude futures reached a peak of around $126, comfortably below the 2008 all-time record of $147, and averaged only $101 per barrel between February 28th and June 11, when U.S. president Donald Trump called off the strikes against Iran. They then briefly retreated to $70 levels before the war in early July. Here are some reasons why oil...