ShapurII
Trusted Member
Exactly. There used to be people here who before the war predicted oil prices would exceed $200 per barrel. It never materialized.Brent crude peaked above $114/barrel during the the 40 day war with strait of Hormuz closed.
This war, it peaked at $100.69/barrel on July 23 despite strait of Hormuz closure, Bab el Mandeb closure, and lower reserve inventories.
This trend neutralizes Iran's main deterrent. Accepting a ceasefire again despite this and despite the axiom that agreements will not be respected is something else.
The truth is that Iran's impact on energy price has been minimal and it's already getting fully neutralized. If you adjust oil prices after the US invasion of Iraq for inflation, anything below $170 per barrel is still pretty low and hardly noticeable.




