Why Have Oil Prices Not Risen More During the Russian-Ukraine Conflict?

Former Chief Global Economist, JPMorgan Chase, Ph.D. in Economics

Although prices have risen since the crisis erupted, many analysts predicted even higher prices!   Another reason for the moderate rise in West Texas Intermediate (WTI) to $104.13 at the time of this writing is that markets hoped that this conflict wouldn’t last long given the harsh sanctions imposed by the international community. That includes freezin…