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The log
- Iran War Drives Oil to $120 — How to Protect Your Portfolio in 2026
- 7 September 2026 — Published 24 March 2026, this article argued that Brent crude near $120 was “not a short-term aberration.” It was. Brent closed March at $126.69 and fell to $70.46 by the end of June — a 44% round trip in three months, taking it below its pre-escalation February level of $71.32. We mistook an interruption in the flow of barrels for a loss of supply, and we published a level where the defensible claim was about volatility. The original text has been left unedited and a dated section added setting out the full price path, what we got wrong and the one thing we got right — that the durable damage was to European gas, not to crude.
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