Why Oil Stays Below 100 Despite Gulf Supply Disruptions
Global oil prices remain below 100 dollars a barrel despite severe Middle East supply disruptions. Alternative shipping routes and rising output from non OPEC producers help mitigate shortfalls.
Xurve View
Insights:
Xurve View
Brent Crude Oil traded below $100 a barrel despite Middle East supply disruptions that cut Gulf exports to 11 million bpd from 18 million bpd. The ongoing conflict involving the United States and Iran has restricted major shipping lanes. Analysts cite alternative trade routes and demand destruction for capping price gains.
