Why Oil Is Still Stuck Near $100 a Barrel
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Global oil prices remain stuck above $100 a barrel despite emergency stock releases.
- ✓Haris Khurshid said, “We’ve lost supply, drawn down inventories and disrupted the ability to turn crude into products like diesel.” Ongoing war fears and low global inventories keep costs high, as refineries pay more to secure supplies.
Story at a Glance
- Category
- BUSINESS
- Reported By
- Livemint
- Reading Speed
- 4 Minute(s)
- Market Focus
- India Economy
(Bloomberg) -- Hundred-dollar oil is hard to leave behind.
The amount of crude flowing from the Middle East has almost returned to levels last seen before the US attacked Iran, triggering one of the biggest supply disruptions in history. But global prices remain stuck above $100, roughly 40% higher than when the conflict began. They’re sending shock waves through the global economy, feeding inflation and squeezing industries and consumers alike.
Even Friday’s announcement that the Group of Seven nations and its partners would release as much as 100 million barrels of emergency oil and diesel stocks couldn’t bring prices down. Instead, a confluence of problems is keeping them high.
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