When the Strait of Hormuz tightened, many braced for $200-a-barrel oil. More than three months on, that nightmare scenario is still nowhere in the picture.

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…

Oil prices remain below $100 despite the Strait of Hormuz closure. New all-time high by September 30 at 18% YES.