US, China Shield Oil Market From Iran War Shock as Brent Stays Below $100
Updated
Updated · Bloomberg · May 12
US, China Shield Oil Market From Iran War Shock as Brent Stays Below $100
10 articles · Updated · Bloomberg · May 12
$100 a barrel has remained unbroken for Brent despite the Iran war, with the US and China helping prevent a broader supply crisis.
US output and emergency supply capacity have cushioned the market, while weaker Chinese demand has limited the price spike that a Middle East conflict might normally trigger.
That balance is fragile because any wider disruption to regional exports could quickly tighten supplies and push prices sharply higher.
The market’s resilience shows how demand softness and non-Iran supply are offsetting war risk, but it also leaves oil highly exposed to any escalation.
As emergency oil reserves hit a 40-year low, what is the world's ultimate backup plan if the Iran conflict escalates?
With China propping up Iran's economy, can its fragile energy cooperation with the U.S. truly stabilize global markets?
Is the largest oil shock in history finally forcing a permanent global shift away from vulnerable fossil fuel chokepoints?