Don't be fooled by cheap oil | The National
Oil prices are oddly calm despite major supply cuts from conflicts. Prices have doubled since December but remain restrained around $100-$120. Experts say prices could go much higher before hurting global growth, given oil's smaller share of the economy now. The market seems to be betting on a quick end to the war and reopening of key shipping routes, but negotiations are going in circles. While refined fuels like diesel are hitting scary highs, overall crude prices show surprising restraint. History suggests this calm might not last-if underlying issues aren't resolved, we could soon be asking why prices are so high again.
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