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Economist Highlights 3 Causes of Oil Price Volatility
The article explains that the continued volatility in oil prices more than five months after the conflict between the United States and Iran is due to three main factors: political and diplomatic uncertainty that makes the outlook unclear; a significant reduction in oil supplies over the past six months, which has led to strategic reserve depletion; and the extraordinary crisis in the Strait of Hormuz, through which a fifth of global oil and gas shipments pass. This situation exerts a substantial and long-term impact on prices until a clear political and military resolution is achieved.
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