Oil's Endless Crisis: What's Behind the Markets' Increasing Uncertainty? The oil markets have long been a bellwether for global economic trends.
However, in recent years, they've become increasingly entangled with geopolitics. The latest development – an attack on Saudi Arabia's East West pipeline – is merely the most recent reminder of this intricate web.
The Strait of Hormuz, through which the pipeline runs, has long been a chokepoint for global crude supplies. Disruptions here have far reaching consequences.