Why oil at $200 a barrel is no longer unthinkable
If supply disruptions persist, holders of stockpiled reserves can’t be relied on to fully cushion the impact
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How the oil shock might spread
Measures undertaken by vulnerable economies may be only the start of things to come
The disappointing dollar
And the worst-case scenario for oil
Oil market one month from crunch point as global stockpiles dwindle
Traders warn of further jump in prices and ‘huge pain’ as economies cut consumption
Why this oil shock is different
Governments and central banks are out of policy ammunition to contain the economic fallout
Even with low oil prices, Opec could come out on top
With rivals running out of juice, the cartel can afford to play the long game
There is no return to normal on oil any time soon
Even if the Iran war ends quickly, governments will need to prioritise security of supply