Why oil’s not at $200 after the biggest supply shock in history
Despite the blockage of the Strait of Hormuz, global oil prices have remained below $100 per barrel due to increased US exports and reduced demand from China. Analysts are monitoring how long these market buffers can sustain current price levels.
Why it matters
Explains the resilience of the global energy market during a major supply shock, challenging previous economic forecasts of extreme price spikes.
For decades, oil traders, executives and analysts warned that closing the Strait of Hormuz would be a global economic catastrophe.
Focuses on market data and economic analysis without taking a political stance.
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