With oil markets nearing the danger zone, a US-Iran deal canât come soon enough | Heather Stewart
Global prices are approaching a tipping point that could trigger inflation, shortages and, over time, recessionIf a US-Iran deal is about to be reached, three months on from the launch of Donald Trumpâs Operation Epic Fury, it will not be a day too soon for oil markets, which are approaching a dangerous tipping point.The cost of a barrel of crude on the spot market â for immediate purchase, effectively â has bounced about $100 since Iran predictably responded to the onslaught from the US and Israel by closing the strait of Hormuz. Continue reading...
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