The price of oil has shot up past $126 dollars a barrel, its highest level since 2022. After months of shrugging off concern, markets are finally starting to reflect that the Strait of Hormuz might remain closed, taking about a seventh of the world’s oil supply offline. The Economist’s editor-in-chief, Zanny Minton Beddoes, Edward Carr, deputy editor, and a panel of experts discuss how high the oil price could really go.
#oil #iran #straitofhormuz #economy #finance
00:00 - How high does the oil price need to go to balance supply and demand?
00:50 - Why has the oil price surged?
01:28 - Are traders in la la land?
03:12 - What has stopped the price from rising?
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