"The continued surge in oil prices comes amid market anticipation of further escalation in the Middle East, which threatens chronic and structural disruption to crude oil supply chains originating in the region."
"If the administration unleashes strikes against civilian infrastructure, the subsequent regional retaliation could devastate Middle Eastern oil extraction capabilities."
"The tactical reality on the ground presents a frustrating paradox for the White House, as the administration demands total capitulation but has failed to secure its primary objectives."
West Texas Intermediate crude oil futures increased over 2%, surpassing $114 a barrel, nearing 2014 highs. The rise is driven by fears of escalating conflict in the Middle East, which could disrupt oil supply chains. President Trump is poised to launch strikes on Iranian infrastructure if diplomatic efforts fail, causing anxiety in energy markets. Negotiators are pessimistic about reaching an agreement, leading to expectations of military escalation. Potential strikes could severely damage oil extraction capabilities, resulting in long-term supply shortages and market instability.
Read at London Business News | Londonlovesbusiness.com
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