Oil Prices Hover Near $100/Barrel as Iran Conflict Disrupts Supply for Seventh Month
Brent crude fluctuated around $98–$101+, with WTI near $90, driven by the 7-month Iran war disrupting flows despite some recovery in Persian Gulf exports. Chinese refinery export curbs and broader energy shocks keep prices elevated.
TLDR
Oil near $100 serves as a major inflation and geopolitical signal, influencing transport costs, central bank policy, and feeding into broader market weakness. The lack of quick conflict resolution sustains volatility and uncertainty in energy markets.
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