When oil prices spike, where does the money go?

Who gets all that cash, and what do they do with it?

By: Matthew E. Oliver, Georgia Institute of Technology and Tibor Besedeš, Georgia Institute of Technology, The Conversation

Outlets: The Conversation

Published: April 20, 2026

Words: 1,178

Last Updated: 3 months, 1 week ago

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By Matthew E. Oliver, Georgia Institute of Technology and Tibor Besedeš, Georgia Institute of Technology

The market for oil is global, which is why events like the war in Iran affect oil prices – and prices of the wide range of products made from oil – literally everywhere. Federal data shows that the price at the primary crude oil hub in the U.S. was US$66 a barrel in late February 2026 – before the U.S. …

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