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🌍 The oil market ran on two unspoken guarantees for 50 years. Both just broke.
The Week in Geopolitics

🌍 The oil market ran on two unspoken guarantees for 50 years. Both just broke.

Macro Soup Newsroom Macro Soup Newsroom 4 min read

Iran's Hormuz closure and the UAE's OPEC exit broke two guarantees that kept oil markets predictable for 50 years. Brent hit $115/bbl with 21 mb/d of global supply hanging in the balance.

Brent crude oil price surge chart amid Strait of Hormuz disruptions
Chart showing Brent crude surging to $115 as Iran closes the Strait of Hormuz, highlighting energy security risks from the US-Iran conflict. Data underscores geopolitical impacts on global markets. Source

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