You could call it a crude reality.
Oil prices inched higher Tuesday, rising on OPEC‘s newly extended production cuts and tensions with Iran, but still under pressure from demand concerns tied to slowing global growth and the trade dispute between the U.S. and China.
That push-and-pull dynamic is putting crude prices in a unique kind of “sweet spot,” said Amy Harder, energy reporter at Axios.
“We really are in this Goldilocks moment of oil prices, and therefore gasoline prices, here in America, and Iran is just one part of the two big pressure points that are countervailing each other,” Harder said Tuesday on CNBC’s “Futures Now.”
“A decade ago, or even a few years ago, oil prices would probably be a lot higher,” even with these same concerns, Harder said. “But because of this slowing economic growth and, of course, the boom in American oil production over the last decade, we’re seeing prices more tempered despite the fact that there’s all this unrest and uncertainty going…