Consumers Are Paying the Price for the “Strategic Trap” of War in Iran

I think expectations are definitely shifting or have shifted to the belief that this is likely going to go on for a while and that the supply effect is now such that prices are going to stay high for the rest of this year, high relative to what we thought that they would be right when we enter 2026, there was this broad expectation that this was going to be a pretty soft market, that there was going to be an imbalance of supply over demand. Demand growth was going to be pretty soft, pretty sluggish, and tha ...