Iran And Houthis Add $49 To Oil; Demand Cuts $10

By Ziad Daoud, Bloomberg Chief Emerging Markets Economist

Geopolitics is driving oil higher. Economics is holding it back. The Iran war has removed a significant share of global supply. Now Houthi attacks threaten to choke off even more barrels. Consumers are adjusting by paying more for the remaining crude and using less of it – especially in Asia.