Why oil’s not at $200 after the biggest supply shock in history
- Posted on June 6, 2026
- By Business News Today
- 1 Views
- 1 min read
Why oil’s not at $200 after the biggest supply shock in history
Global oil prices are defying expectations, staying below $100 a barrel even after the Strait of Hormuz was effectively blocked. Record US oil exports and a significant drop in Chinese demand are helping to absorb the shock. Strategic reserves have been released and alternative routes are being used.
