Source: International Business Times
The global surge in energy prices is no longer driven solely by Iran war-related supply disruptions. Now, hoarding behavior across governments, companies, and traders reacting to uncertainty in oil markets is also playing a role. According to a report by The New York Times, as the conflict in the Middle East has choked oil and fuel shipments from the Persian Gulf, wealthy economies including the United States, Europe, China, and Japan, have been able to pay more to secure what they need.
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