As Trump has declares the truce “over” and aggression ramps back up, Robin Brooks of the Brookings institution walks us through what this all might mean for the global oil market.
Wall Street had been betting that higher oil prices will cause inflation. Now oil prices are dropping, and the leading theory is that cheaper goods could overheat the economy.
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A tenuous deal with Iran has pushed oil prices lower, but U.S. strategic petroleum reserves are at their lowest level in 40 years and commercial inventories have been heavily drawn down.