Global Oil and Gas Consumption Drops as Iran War Hits 7-Month Mark
🛢️ DEMAND — The blockade isn't just choking supply; it's destroying demand too. 📌 LOOK CLOSER: Supply disruption was priced in. Demand destruction is different — it signals economic contraction feeding back into the crisis. Lower consumption compresses producer revenues globally, including Gulf states funding the war effort. At $102/barrel with Goldman's $120 threshold watch, falling demand could cap price despite constrained supply, removing Tehran's leverage calculus.
