How high could the oil price go? | The Economist

Description

The price of oil has shot up past $126 dollars a barrel, its highest level since 2022. After months of shrugging off concern, markets are finally starting to reflect that the Strait of Hormuz might remain closed, taking about a seventh of the world’s oil supply offline. The Economist’s editor-in-chief, Zanny Minton Beddoes, Edward Carr, deputy editor, and a panel of experts discuss how high the oil price could really go. #oil #iran #straitofhormuz #economy #finance 00:00 - How high does the oil price need to go to balance supply and demand? 00:50 - Why has the oil price surged? 01:28 - Are traders in la la land? 03:12 - What has stopped the price from rising? Watch the full show: https://econ.st/4urlnvY Sign up to the Insider newsletter: https://econ.st/4nOyzIb Subscribe to The Economist: https://www.economist.com/subscribe Download our app: https://www.economist.com/get-the-app Follow The Economist on Instagram: https://www.instagram.com/theeconomist/ Follow The Economist on Facebook: https://www.facebook.com/TheEconomist Follow The Economist on X: https://x.com/TheEconomist