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The Iran war oil shock: Is there worse to come?
When the Iran war and the Strait of Hormuz's closure disrupted global oil supply, some experts predicted crude oil prices as high as $200 per barrel. It hasn't happened. Why not?
When the Iran war and the Strait of Hormuz's closure disrupted global oil supply, some experts predicted crude oil prices as high as $150, or even $200 per barrel. That hasn't happened. Why not? And is it because the way the global oil markets work mean the pain for households and businesses is still to come?
Presenter: Ed Butler
Producer: Josh Martin
(Photo: Getty/matejmo)
Last on
Wed 27 May 2026
14:32GMT
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