The paths of oil are inscrutable
The conflict in the Middle East has clearly entered a protracted stage, and oil prices confidently overcame the psychological mark of $100 per barrel. Hopes that a sustainable and lasting truce (not to mention a full peace) will be achieved in the foreseeable future are fading. There are at least two ways of such adaptation: increasing supplies from regions not affected by hostilities, as well as attempts to ensure the transportation of energy resources from the Middle East bypassing Hormuz and other explosive territories and waters.
The conflict in the Middle East has clearly entered a protracted stage, and oil prices confidently overcame the psychological mark of $100 per barrel. Hopes that a sustainable and lasting truce (not to mention a full peace) will be achieved in the foreseeable future are fading. There are at least two ways of such adaptation: increasing supplies from regions not affected by hostilities, as well as attempts to ensure the transportation of energy resources from the Middle East bypassing Hormuz and other explosive territories and waters.
