LONDON: Five weeks into the Iran war, the math of oil-barrel counting is intractable: The world is short of the black stuff. This relatively muted reaction isn’t a sign that the market is underreacting to the closure of the strait, the waterway for a fifth of the world’s oil provision. The last time the market was so out of sync was in 2020 when the pandemic forced billions of people into lockdown.
Published at: 2026-03-30 21:59:00
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