WSJ reports US oil costs from Iran war top $1 trillion as crude tops $100 a barrel

The Wall Street Journal reports that US oil costs from the Iran war have topped $1 trillion as crude prices moved above $100 a barrel. Market commentary attributes the refined-product squeeze to roughly 2 million barrels per day of products trapped by the war, Chinese refinery run cuts, and damage to Russian refining capacity from Ukraine.

Detected & updated continuously · Source: Nebula