Oil prices surge to highest level since mid-2022, ING warns: long-term supply disruptions already priced in
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Golden Ten Data reported on March 9 that due to some major oil-producing countries in the Gulf beginning to cut production, and the Hormuz Strait shipping lane effectively remaining closed, oil prices have surged to their highest levels since mid-2022. Analysts at ING stated: "These production disruptions, combined with no signs of easing in the war, mean the market has to aggressively price in long-term supply interruptions. Even if transportation through the Hormuz Strait resumes, it will still take time to increase upstream capacity."
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Chaincatcher•2026/03/09 09:40
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