Oil prices surged as Houthi attacks and pipeline strikes shattered buffers, leaving diplomacy as the only escape from collapse.
Friday, October 23, 2026
Oil prices surged as Houthi attacks and pipeline strikes shattered buffers, leaving diplomacy as the only escape from collapse.
Oil markets keep betting the Strait of Hormuz reopens soon. That wager explains lower wartime prices and violent volatility.
US faces economic crisis and allied rifts as Iran war costs billions and Hormuz closure threatens global recession.