The Strait of Tension: Oil Markets Seized by Geopolitics The recent surge in oil prices has been driven by a complex web of geopolitics that threatens to disrupt global energy markets.
The standoff between the US and Iran over a peace deal continues, with the Strait of Hormuz remaining effectively closed.
This strategic waterway connects the Persian Gulf to the Arabian Sea and is the primary conduit for oil shipments from major producers in the Middle East.