Raw materials: $95 instead of $200: Why the big oil shock has not materialized despite new attacks in the Iran war
Oil prices of up to $200 per barrel were predicted by experts because of the war. IEA and EU warned of shortages. The Handelsblatt explains why these forecasts have not come true.
The oil price is at $95 per barrel, up 6% on the week, despite escalating tensions between the US and Iran. The US military recently sank an Iranian oil tanker, the "M/T Kylo". This development would have previously caused a sharp price increase, but the market now seems muted. Oil exports from the Gulf region are at around two-thirds of the pre-war level of 20 million barrels per day. The reasons for this change in market behavior are attributed to a combination of several factors.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
