When oil prices spike, where does the money go?

When oil prices spike, where does the money go?

The oil industry is all about the Benjamins. Diy / iStock / Getty Images PlusThe market for oil is global, which is why events like the war in Iran affect oil prices – and prices of the wide range of products made from oil – literally everywhere. Federal data shows that the price at the primary crude oil hub in the U.S. was US$66 a barrel in late February 2026 – before the U.S. and Israel attacked Iran – and $101 a barrel on April 13. Similar pr…

When oil prices spike, where does the money go?

by Matthew E. Oliver, Georgia Institute of Technology and Tibor Besedeš, Georgia Institute of Technology, [This article first appeared in The Conversation, republished with permission] The market for oil is global, which is why events like the war in Iran affect oil prices – and prices of the wide range of products made from oil – literally everywhere. Federal data shows that the price at the primary crude oil hub in the U.S. was US$66 a barrel …