Global Oil Market Roiled: Wars, Sanctions, and OPEC+ Cuts Stoke Price Fears
The global oil market is grappling with unprecedented volatility this July, as renewed military actions in the Gulf and ongoing disruptions from the Iran War, coupled with fresh OPEC+ production cuts, send Brent crude prices surging above $85 per barrel. Just days after a US-Iran Memorandum of Understanding to reopen the vital Strait of Hormuz abruptly collapsed, American forces launched missile strikes and reinstated a naval blockade, plunging critical shipping lanes into further uncertainty.

















