Oil’s Many Headwinds Are Masking the Middle East Turmoil
Weak refinery margins, Venezuela talks and demand concerns are keeping price rises in check
An oil platform in the Gulf of Mexico.
Photographer: Luke Sharrett/BloombergWelcome to Energy Daily, our guide to the energy and commodities markets powering the global economy. Today, Oil Strategist Julian Lee looks at the pressures on the market even as political tensions return to the Middle East. Click here for the latest on the Israel-Hamas war. To get this newsletter sent straight to your inbox, you can sign up here.
Oil prices are facing headwinds even as markets are being buffeted by Israel’s looming ground offensive, a horrifying explosion at a Gaza hospital and increasing Iranian rhetoric.