Oil's Oversupply Narrative Just Died - Crude Oil Prices Today | OilPrice.com
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- Crude oil hit $87 per barrel again after the latest U.S. strikes on Iran and a looming blockade, per NBC News
- Oil prices rose 2% to a one-month high as U.S.-Iran attacks deepen supply disruption, per Reuters
Why it matters: A 2% jump to $87 directly punctures the oversupply thesis that had dominated oil market sentiment, meaning supply-side geopolitical risk is now the operative price driver. With U.S. stock futures already softening ahead of CPI, energy-driven price pressure raises the stakes for traders watching the inflation print.
