Oil Industry Braces for Years-Long Iran War
6 Articles
6 Articles
By David Goldman and Matt Egan, CNN The war between the United States and Iran has lasted much longer than many expected, and the same has happened with the operation of the oil market.Despite the uncomfortablely high fuel prices that have cost the average home of the United States almost
Oil Industry Braces for Years-Long Iran War
Oil producers, traders, and refiners are bracing for a prolonged war between the United States and Iran in the Persian Gulf with little to no hope of a quick resolution. By extension, they are also preparing for higher prices for longer, a theme present at this year’s edition of the Asia Pacific Petroleum Conference. Reuters’ Clyde Russell reported this week that the mood at APPEC was not particularly cheerful as hostilities in the Middle East e…
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