Why Are Oil Prices Cooling Despite Renewed U.S.-Iran War ? | Narendra Taneja

Despite one of the biggest supply shocks in modern history and disruptions around the Strait of Hormuz, global oil prices have failed to reach the $200-a-barrel levels that many feared. Brent crude has retreated sharply from its post-conflict highs, while physical oil markets are showing surprising signs of stability. In this discussion, energy expert Narendra Taneja explains why booming US exports, strategic petroleum reserve releases, weaker Chinese demand and cautious buying by refiners are keeping prices in check. He also analyses whether this calm is temporary and what could trigger the next major move in global oil markets, with implications for inflation, energy security and the Indian economy.