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Story summary
- Oil prices have surged due to the ongoing Iran conflict and Strait of Hormuz disruptions.
- Analysts warn that U.S. President Donald Trump’s plan to end the Iran war within two to three weeks may not prevent significant damage to global oil demand.
- Goldman Sachs reports early signs of demand reduction in aviation and petrochemicals.
- If the conflict extends beyond the weekend ceasefire, demand destruction could become a reality.
