Oil Above $110 as IEA Warns No Quick Return to Normal — SkimNews
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- Brent crude traded near a five-month high, driven by Middle East supply fears and U.S. inventory drawdowns, per Reuters.
- The IEA warned energy markets will not return to normal next year, with oil holding above $110 a barrel, per CNN.
Why it matters: Persistent prices above $110 per barrel and the IEA's warning of no near-term normalization mean sustained cost pressure on consumers and businesses dependent on crude, while Middle East supply disruptions keep the upside risk live.
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