2023 WallStreetAssessments

Business

Oil Markets Resilient Despite Middle East Unrest and Red Sea Attacks

Washington: In the aftermath of Russia’s 2022 invasion of Ukraine, oil prices surged past $100 per barrel. However, the current geopolitical landscape, including tensions in the Middle East and Red Sea shipping attacks, has not mirrored such drastic oil market reactions, as reported by the media. Last month witnessed a spike in oil prices following US-led strikes on Houthi targets…