Crude Oil Prices Don’t Reflect the Global Supply Crisis
While Brent and WTI hover around the low $100s, spiking fuel costs paint a clearer picture of the escalating disruption.
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Welcome to our guide to the commodities driving the global economy. Today, energy reporter Dan Murtaugh explores why the benchmark crude oil price has yet to reflect the global supply crisis arising from the war in the Middle East.
A month into the Iran war, signs of oil’s growing scarcity are almost everywhere, from grounded flights to sold-out filling stations and — as of today — $4 gasoline in the US.