Key insights
- Reports suggest global oil reserves could be depleted in two weeks without an Iran deal, potentially causing prices to skyrocket and threatening the current bull market. This persistent prediction, however, raises questions about its validity versus a 'weatherman effect' of forecasting worst-case scenarios. If prices surge significantly due to supply shocks, it could trigger a market crash, impacting US equities.
I've been seeing analyst after analyst saying that the oil reserves mostly of European and Asian countries are two weeks away from running out if no Iran deal is reached. This will cause prices everywhere to skyrocket. Thing is, I've been hearing this same thing for weeks. Regardless of politics or blame, is the other shoe ACTUALLY going to drop in about two weeks or is this the "weatherman effect" where it's just safer for them to predict the worst outcome just in case? If the worst case scenario happens, won't that make even this bull market crash?