“The latest rally followed a weekend escalation in which the U.S. military struck three Iranian oil tankers after Iran launched ballistic missiles at two U.S. Navy warships.”
Brent at $97.52, WTI at $92.68, and analysts already floating $120. Inventories outside China are down 400 million barrels since this started. Gas hit a Labor Day record and the refinery in Jizan that just got hit does 400,000 barrels a day. Every “six-week high” headline is a way of not saying the war is now priced at the pump.