Oil prices rose since the start of the US-Israeli war against Iran amid huge volatility. Brent is up more than 50 percent year to date. At the same time we have seen US stock markets, especially the NASDAQ, reach ever new record highs.
The drivers of the real economy and the stock market are diverging. The Iran war has removed more than 10 million barrels per day of oil and around 20 percent of global LNG supplies from the market. Add fertilizer, aluminum, helium, and other commodities to the equation, and the result is growing supply shortages across multiple sectors.
Energy markets
The CEO of Aramco, Amin Naser, estimated a few weeks back that the world was missing one billion barrels since the beginning of the war.
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