Brent crude fell below $80 per barrel, which helped Treasury yields ease in the bond market.
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Before the Iran war, the global economy consumed about 101 million barrels of oil a day. Brent crude is trading at over $100 a barrel.
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Oil prices are down, and stocks are up, though such moves have been quick to change since the war in Iran began.
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The plan had been to start gradually restoring 2.2 million barrels per day over the course of 2025.