Oil price catastrophe will take far longer to recover from than first thought: expert

The catastrophic rise in oil prices as a result of the war with Iran will last far longer than experts had first expected, a political analyst has warned.

Elizabeth Saunders has suggested that the closure of the Strait of Hormuz will lead to a price hike on oil that will stick around for much longer than experts had first suggested. Speaking to Greg Sargent of The New Republic, Saunders claimed the longer-term struggles of the oil price hike would be felt in the US for some time yet.

She said...