Here's Why the Price of Oil is Likely to Remain High Even After the War Ends [Globe and Mail, The (Toronto, Canada)]
Exxon Mobil Corporation (XOM)
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Source: Globe and Mail, The
Oil stocks' share prices have retreated to near prewar levels and may be a bargain now. Since the Iran war began on Feb. 28, the price of Brent crude, the international benchmark, has bounced between about $90 and $112 a barrel. And the average price in March was $103 a barrel. The obvious reason for the price spike is that Iran has been able to essentially halt the flow of crude oil and related products through the Strait of Hormuz, through which passes between a fifth and a quarter of seaborne oil trade in normal times. That has limited global supply and sent prices higher. Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » For the 12 months before the war began, the price of a barrel of oil fluctuated between $55 and $75. Image source: Getty Images. So you might assume that once the war ends and the Str
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- The Pentagon Says It Could Take 6 Months to Clear Mines From the Strait of Hormuz. Here Are 2 Predictions for Oil Stocks Through the End of 2026. [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- Oil Stocks Push Higher Even as War Premium Fades [Yahoo! Finance]Yahoo! Finance
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