Fears of World War III Are Greatly Exaggerated

Imminent war makes for great headlines, but they roil oil markets that are already operating at the height of disconnect, contradiction, and confusion. The whipsaw nature of oil market sentiment continues, with analysts generally reacting to a moment rather than a longer narrative, but overall, despite a momentary flirtation with 5% gains earlier on Thursday, oil markets aren’t really buying the WWIII scenario should Israel attack Iran. Even the markets recognize that we’ve been here before, so many times.  The world is already…