Iran Isn't the Only Conflict Vexing the Oil Market

The end of the Iran war, despite all the ups and downs in the ceasefire talks, has solved one oil problem. The price of crude has fallen to less than $75 a barrel, roughly where it was before the conflict began in February. But the almost simultaneous escalation of the Russia-Ukraine war in recent weeks is creating another — and less discussed — oil headache: The price of refined petroleum products remain as high as if crude oil was still changing hands above $100 a barrel.