The oil market’s vulnerability and dependence not just on a single country, but on a single facility, was laid bare on September 14.
Weaker demand has allowed traders to shrug off recent events in the Persian Gulf. But a belief that a return to the days of the tanker war is unlikely may be misplaced.
With global oil supply outpacing demand, oil traders are shrugging off rising tensions around the Strait of Hormuz.
Iranian threats to disrupt shipping through the Strait of Hormuz highlights the precarious political nature of the oil market—and recent events show why this threat must be taken seriously.
OPEC's collusive actions run counter to established international anti-competitive norms at American expense. But by amending the Sherman Act, NOPEC offers a tool to combat these activities.
While the result from Vienna is ostensibly a success, there are obvious cracks in OPEC’s cohesion, as well as in its strategy to tighten up the market.
Against the backdrop of rising tension in the Persian Gulf, OPEC+ will meet to decide next steps
Russian discontent over Saudi intentions to reduce production is a likely potential flashpoint for the upcoming meeting—but internal OPEC politics, particularly between Saudi Arabia and Iran, mean this summit is rife with tension that threatens to upset proceedings.
The oil price increase sparked by the recent attacks on Saudi oil tankers is concerning for the United States, because oil is the lifeblood of the American economy.
A series of apparent attacks on oil infrastructure in the Arabian Peninsula thrusted geopolitical risk to the forefront of market concerns. Against a backdrop of an already tightening supply-demand balance, the possibility of a serious supply outage poses a major risk to market stability.