The Decline of Oil Power in Middle East Geopolitics
OilPrice
JUNE 28, 2025
Despite expectations, the recent geopolitical turbulence in the Middle East—especially the events of October 7, 2023, and the escalation between Israel and Iran—did not deliver a severe blow to global energy markets. Compared to past regional crises or major global shocks like the Russia–Ukraine war, the impact was surprisingly muted.
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