Diverging Crude Benchmarks: Geopolitical Volatility Reshapes Global Energy Markets
Global oil markets entered a period of heightened volatility this week as Brent and West Texas Intermediate (WTI) crude prices began to decouple, driven by escalating military skirmishes between the United States and Iran near the Strait of Hormuz. While Brent crude surged by 4% in response to mounting fears over shipping disruptions, WTI has…