Business
Why Haven’t Oil Prices Surged More?
Brent crude jumped more than 7% on Monday to trade above $78 a barrel. That’s a big rise but not as large as some had predicted.
Over the weekend, traders and analysts suggested the conflict in the Middle East would push oil prices above $90 a barrel—with some predicting prices could top $100 a barrel.
So why haven’t oil prices shot up further this morning? Here are some potential reasons.