Neutralizing Iran could make crude oil much cheaper because the threat posed by Tehran imposed a "terror premium" that inflated global oil prices for decades, a top White House adviser said in a report to be released on Monday. Reuters viewed a draft of the report prepared by the White House trade and manufacturing office. U.S. and Israeli strikes on Iran have jolted global energy markets, sending oil prices higher and raising gasoline costs for U.S. consumers. By arguing that Iran-related geopolitical risk has artificially inflated oil prices for decades, the analysis frames aggressive action against Tehran as a long-term economic benefit. The University of Houston's Hirs questioned the report's contention that oil prices would fall below $60 a barrel if Iran-related risks disappeared.
