How does international conflict affect oil prices? (Scripps News)

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    How does international conflict affect oil prices? – By Lauren Magarino (Scripps News) / Nov 4, 2023

    Five facts on how Israel, Ukraine, and Iran tensions affect global energy markets and American fuel prices.

    We rely on crude oil and the chemicals we produce with it to power our vehicles, homes, and businesses.

    Products made from oil include plastics, asphalt, rubber, and thousands of chemicals. But the top ten oil-producing nations include global hot spots like Russia, the Middle East, and Iran.

    So it’s not surprising that conflict overseas often influences energy markets.

    Yet it’s challenging to predict how a particular conflict, like the Israel-Hamas war, could affect fuel prices.

    CONTINUE > https://scrippsnews.com/stories/how-does-international-conflict-affect-oil-prices/

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