Shell’s CEO Warns That Oil Prices Will Continue Rising Long After the War Ends. Here’s What That Means for Oil Stocks.
Key takeaways
- CL=F SHEL Oil prices have surged this year amid the conflict with Iran.
- Many people outside the oil industry believe oil prices will decline rapidly once the Strait reopens and remain low in the coming years.
- Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need.
CL=F SHEL Oil prices have surged this year amid the conflict with Iran. Brent oil, the global benchmark price, has risen more than 50%, jumping from around $60 a barrel to more than $90. On a positive note, Brent is currently well below its peak of nearly $120 a barrel, reached in the early days of the war. Crude has cooled off amid hopes that the U.S. and Iran will reach a peace deal that includes reopening the Strait of Hormuz.
Many people outside the oil industry believe oil prices will decline rapidly once the Strait reopens and remain low in the coming years. However, the CEO of global oil giant Shell (NYSE:SHEL) has a different view. He expects oil prices to continue rising long after the war ends. Here’s why and what that means for oil stocks.
Will AI create the world s first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »