Why Oil's Future Is So Unpredictable
Lucian Nemoiu
The oil market has been roiled by the Iran war, with prices swinging wildly as conflict around the Strait of Hormuz disrupts supply and spooks traders. For regions most dependent on Gulf exports, the strain is already apparent, with wider implications on the horizon. The war in Iran has triggered an unprecedented disruption in global oil markets by effectively halting traffic through the Strait of Hormuz, a narrow waterway that carries roughly a quarter of the world’s seaborne crude. While the
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