Why $100 Oil Is Hard to Kill
Brent Crude oil prices have held above $100 per barrel for most of the past month despite numerous reports and figures put out in recent weeks by tanker-tracking services and investment banks that crude oil flows from the Strait of Hormuz have recovered, and even exceeded, pre-war levels. But if so
Brent Crude oil prices have held above $100 per barrel for most of the past month despite numerous reports and figures put out in recent weeks by tanker-tracking services and investment banks that crude oil flows from the Strait of Hormuz have recovered, and even exceeded, pre-war levels. But if so much crude is leaving the Middle East again, why do Brent prices continue to hover around the $100 a barrel mark, up from $60 before the war? The Perfect Storm Because crude oil flows returning to pre-war levels does not mean that the market…
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