Episode Details

Oil prices defied all expectations this year, soaring from near $60 a barrel to over $120 amid geopolitical chaos—especially after Iran’s war with protesters and airstrikes that blocked the Strait of Hormuz. Though tensions have since eased and prices retreated to $74 for Brent and $70 for WTI, the market’s resilience was on full display as nations cut demand and producers held steady. Analysts now predict a return to lower prices, with oversupply looming as global energy transition accelerates.

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