Geopolitics Reigns Supreme Over Oil Markets The recent surge in crude oil prices is a stark reminder that geopolitics still holds an iron grip over the global energy landscape.
Prices have risen to a two week high, with investors hedging against potential supply disruptions amidst escalating tensions between the US and Iran.
The Strait of Hormuz, a critical chokepoint for global oil supplies, connects the Persian Gulf to the Gulf of Oman via a narrow waterway.