The Great Squeeze: Why Oil Prices Remain Stubbornly Low Amid Global Conflict The recent behavior of the oil market has left even seasoned strategists perplexed.
Despite the ongoing US Iran war and attacks threatening shipping through key chokepoints, oil prices have remained surprisingly low.
According to Natasha Kaneva's team at JPMorgan, a staggering drop in energy demand is the primary reason behind this anomaly. Energy demand has plummeted by 11.