Why Oil Prices Just Soared 70% Despite A U.S. Supply Glut. Here Are The Surprise Winners And Losers

Oil prices have surged ~70% since Feb. 28 following a U.S. and Israel attack on Iran, per LiteFinance. The move is notable because the U.S. produces more energy than it consumes, suggesting geopolitical shock is driving commodity inflationary pressure and raising risk-off volatility across markets.

Analysis

Oil prices have surged ~70% since Feb. 28 following a U.S. and Israel attack on Iran, per LiteFinance. The move is notable because the U.S. produces more energy than it consumes, suggesting geopolitical shock is driving commodity inflationary pressure and raising risk-off volatility across markets.