Crude oil prices peaked around $120 per barrel in 2008, and adjusting for inflation that represents a higher price than current levels, meaning the Iran war's impact on oil prices has been less severe than the 2008 crisis despite structural differences.
factualpending
Speaker
Daniel YerginEvidence Quote
“We had the oil hit $120 a barrel roughly in 2008. And if you adjust for inflation, that's a higher price.”
Created: 8/12/2026, 6:41:21 PM
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