Why isn't the price of oil higher due to the Iran war? More specifically, why hasn't the price regained the decline that followed the US-Iran MOU, which has now clearly fallen apart? @pkrugman.bsky.social shows that it pretty much has, if you look at refined products (ie diesel) rather than crude.
Why Isn’t the Price of Oil Even Higher?
This is your economy on crack (spread)
paulkrugman.substack.com