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Market Underestimating Long-Term Impact of Iran War on Oil Prices
Description
Stewart Glickman and Ellen Wald cover the latest on the Iran war and oil prices. Stewart sees two areas to be concerned about: the safety in crossing the Strait of Hormuz and fixing the damage from attacks on Gulf oil installations. The latter is a longer-term issue, he notes. Ellen agrees that the market is underestimating the amount of damaged oil infrastructure and is concerned about the levels of stored oil. “This is definitely a moment for Russia,” she says, along with a rise in coal use. “We are in a crisis right now,” she emphasizes.
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