The energy world stands at a crossroads as the Israel-Iran conflict escalates, putting the Strait of Hormuz—through which nearly 20% of global oil flows—under the spotlight. In this episode of FutureWise Energy, Mark Roach breaks down how these rising Middle East tensions are shaking up global oil markets, drawing comparisons to past crises like the Gulf War. Despite dramatic headlines and a 13% single-day oil price spike, markets have remained more stable than in previous shocks, with Brent and WTI crude prices hovering in the mid-$70s. Why? Actual supply disruptions have yet to hit, and OPEC+ nations still hold spare capacity, buffering the impact.
We dive into the latest market data: WTI crude for July at $72.34, Brent for August above $74, and natural gas futures steady around $3.58 per MMBtu. Meanwhile, the U.S. oil rig count has dropped sharply to 439, but gas rigs have jumped 13% in a month, signaling a strategic pivot in drilling.
How does today’s crisis compare to the Gulf War’s catastrophic oil infrastructure damage and price chaos? What lessons can investors and energy professionals draw from market resilience and shifting strategies? Get the full analysis on how geopolitical risk, supply chain vulnerabilities, and market fundamentals are shaping the future of oil and gas.
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