Oil markets are holding their breath over Middle East tensions, unsure of whether to push prices up and ignore supply and demand fundamentals as tensions seem to escalate by the day, or whether it’s all just noise. For now, we will agree with a Foreign Policy assessment that Iran is good at creating chaos through the use of its proxies in the “Axis of Resistance”, but not strong enough to start an outright war with Israel.
While tensions continue to mount on multiple fronts (southern Lebanon/northern Israel; the Red Sea;…Why Iran Wants Chaos, Not War
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