Oil markets face new conflict phase

The article discusses the rising risks to the global oil market amid escalating conflicts in the Middle East and wider geopolitical tensions. Key supply routes, including the Strait of Hormuz and Bab-al-Mandeb, are now obstructed, reducing oil flow and increasing vulnerability. Additionally, attacks on Russian and Ukrainian energy infrastructure, along with declining global inventories, exacerbate supply concerns. Despite these disruptions, oil prices remain comparatively restrained but are expected to surge if the situation worsens, potentially surpassing previous record levels.

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