Anonymous23 days ago
Wall Street's near-unanimous bearish consensus on oil prices — with forecasts of $50-60 per barrel for 2026 — has been violently upended by the U.S.-Iran war and the closure of the Strait of Hormuz, sending WTI crude from $57 to nearly $95 in just two months. The Trump administration's "drill, baby, drill" energy doctrine and promise to keep prices low have collided with the reality of a global oil market in which no amount of domestic production can insulate consumers from a 20% disruption in global supply.