Quote from: RE on Today at 02:52 AMBUSINESSINSIDER.COM • 2026-03-08
Oil passes $100 a barrel as US energy secretary says Iran won't be a 'long-term war'
Oil prices surpassed $100 a barrel on Sunday. The US energy secretary is working to reassure Americans that high gas prices won't last. Chris Wright said the conflict in Iran is a "temporary movement," rather than a "long-term war."
The war may not last long, the effects on the oil market however will be quite long lasting. Doubtful Iran gets back to its pre-war production levels anytime soon, and doubtful shipping insurance costs through the Straight of Hormuz will drop much either. More sabotage likely throughout the region.
Things will get quite messy.
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RE
Indeed. Who knows what will happen with oil at 3077400 a barrel!