The Price of Tension: Oil's New Normal in a World on Edge The surge in oil prices may have been predictable given the ongoing tensions in the Middle East, but it's the underlying dynamics that are more concerning than the numbers themselves.
For over six months, the Strait of Hormuz has remained effectively closed to shipping traffic, causing ripple effects from US fuel prices to global markets.
Recent attacks on Saudi energy facilities by Iran aligned Houthis have added another layer of risk to an already volatile situation.