How the oil market shrugged off the Iran crisis
by Malcolm Moore · Australian Financial ReviewMalcolm Moore
Jun 18, 2026 – 8.00pm
Less than a month ago, Fatih Birol, head of the International Energy Agency, warned an audience in London that the world was in the grip of the biggest energy crisis in history. Unless conditions improved, he said, oil prices could move into “the red zone” over the northern summer.
But even as he spoke, the market had come to a different conclusion.
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