Yes, higher crude oil prices mean a multibillion-dollar cash infusion to the oil industry. But volatility is bad for business, and sustained high prices come with very serious drawbacks.
Higher prices are good news for the oil industry — to a point. But they can bite, too.
Crude oil prices were around $70 a barrel before the war in Iran. After the U.S. and Israel attacked, they started swinging wildly, shooting up to nearly $120; wit… [9447 chars]
Source: NPR | Published: 2026-04-09T09:00:00Z
Credit: NPR
