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Crispus Nyaga

Crude Oil Trading Isn't Trading Higher Despite Iran and Ukraine Wars

Oil Iran Ukraine Donald Trump United States

Oil,Pump,In,The,Desert,Of,Bahrain,,Middle,East

Crude oil prices have surged over the past three weeks, with Brent climbing from this month’s low of $70 to $100 on Thursday. West Texas Intermediate (WTI) has jumped from $67.20 to $93.50 over the same period.

Despite this over 30% rally from the monthly low, strategists have been surprised that oil prices are not even higher, given the ongoing US-Iran and Russia-Ukraine conflicts.

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