White House Report Claims Iran-Related Risks Inflated Oil Prices; Experts Express Skepticism

A White House report led by adviser Peter Navarro claims that Iran-related geopolitical risks have added a 'terror premium' of $5 to $21 per barrel to crude oil prices for decades, inflating global costs and reducing output. The report suggests neutralizing Iran could lower prices below $60 per barrel, benefiting the global economy. However, energy experts like University of Houston's Ed Hirs express skepticism, citing lack of verifiable evidence and concerns over ignoring military action costs and producers' break-even prices.