The Middle East accounts for over one-third of the world’s seaborne oil trade, but recently, this role has been complicated by escalating geopolitical tensions and growing supply and demand dynamics..
The global oil market is inextricably linked to geopolitical tensions and ceasefires, making oil prices sensitive to conflict, especially in key oil-producing regions. Ongoing tensions in the Middle East, fluctuations.
By Henning Gloystein Oil prices fell on Monday, adding to Friday’s steep losses as doubts re-emerged over the ability of major producers to agree output cuts at a planned meeting.
