Oil to adopt new market system
The global oil market is facing an escalation due to geopolitical and military tensions in the Strait of Hormuz, which has disrupted oil flows and increased economic risks. Analyses suggest that the likelihood of reopening the strait has diminished following demands and shifts in market sentiment, leading to higher oil prices that have stabilized at elevated levels, along with increased shipping costs and delayed investments. Nonetheless, experts expect the Gulf region to remain a key hub for oil supplies, and believe that the current energy system will gradually adapt to these crises through a new regulatory framework focused on resilience and diversification of sources.
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