For oil markets, 2025 has been a year unlike any other. The US has been involved in direct action against two Opec founding members – Iran and Venezuela – and yet oil prices are ending the year $15/B down from its beginning.
This marks the continuation of a dynamic whereby oil markets are increasingly tolerant to the risk of conflict involving major producers, confident that for all involved parties the oil must flow. (CONTINUED - 996 WORDS)
