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Why Oil Markets May Be Underestimating a Supply Shock
Oil prices remain surprisingly muted despite months of disruption in the Strait of Hormuz, but energy markets may be running out of time before low inventories become a much bigger problem.
Chuck Zodda and Mike Armstrong break down why crude oil has not surged as much as many expected, how China and the U.S. may be helping offset lost Middle East supply, and why major producers are warning that inventories could soon reach dangerously low levels. They also discuss new inflation data, why the Fed may still have little room to cut rates, signs that the labor market is stabilizing, and how the…
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