Episode Details

Oil prices plummeted on Friday, marking their largest weekly decline in six months, following President Trumps announcement of progress in Iran war talks and a temporary halt on attacks against Irans energy facilities. Despite the drop, analysts warn that markets remain focused on the duration of the conflict, as any disruptions to oil infrastructure or prolonged fighting could swiftly drive prices back up. The war has already reduced global supply by eleven million barrels per day, surpassing the combined impact of the 1970s oil shocks and the Russia-Ukraine gas crisis. If the conflict ends soon, prices may ease but remain above pre-conflict levels. However, a prolonged war into late June could push prices towards two hundred dollars per barrel, as Asian buyers deplete reserves and cut demand.

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