Yahoo Finance | EN590 Commodities
EN590 Commodities GroupCrude Oil 2026-07-23T02:03:00+00:00
Forecasting is mostly a way of buying peace of mind. You want a number for the worst case so you can decide how frightened to be, and once you have that number, you quietly stop thinking and start bracing for it. That instinct is not irrational. It is how you decide whether to refinance, whether to take the job across town, whether the August road trip is still on. Then late February arrived, and the worst case got a number. When the United States and Israel struck Iran on Feb. 28, Tehran shut the Strait of Hormuz, the narrow channel that carries roughly a fifth of the world's oil and refined products. The forecasts that followed were not subtle. Trading desks talked about crude at $150 a barrel. Some of them talked about $200. You ran that math in your head. Most drivers did. One tank, ti
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