Oil/Iran Extreme consequences

The oil market isn’t panicking about Iran. Sure, the price of crude is up 19% in a month. But traders are more worried about more weak output from Iraq, Nigeria and Russia. They have not really taken into account the possibility of Oil/Iran a US military attack on Iran. Indeed, oil is up less this year than copper and sugar. It has barely kept up with gold. The oil price hasn’t even definitively surpassed its all-time record, hit last August after Hurricane Katrina. That’s largely because the o...