Why isn't oil crashing when the cartel that controls the tap just lost its 3rd largest member?
OPEC
+2
Iran is exporting the same 2.4-2.8 million barrels per day as before the war—yet oil prices are 75% higher. Who's buying?
Oil Prices
US markets just saw a 1.6% drop. But oil? That's a different story. It's up 7.4%.
Gold surged 70% and defense ETFs gained 62% while Brent crude flatlined
Commodities
+12