Oil's Escalating Price Spiral: A Middle East Maelstrom The recent surge in oil prices has been building momentum over time, but its underlying causes and potential consequences are more complex than they initially seem.
Brent crude recently broke through the $100 threshold for the first time since July, driven by escalating tensions between the United States and Iran.
This cycle of military strikes and retaliatory attacks has sent shockwaves through global energy markets, fueling fears of further disruptions to Middle East supplies.