Why Brent Has Climbed Above $100 but Not Farther: Supply Routes, Demand Losses and Market Offsets
Brent crude surpassed $100 per barrel amid renewed Middle East hostilities that have raised concerns about oil shipment disruptions. Still, the advance has been measured because significant volumes continue to move through the Gulf and via alternate routes, non-OPEC producers are adding supply, and demand destruction has materially reduced consumpt…