In the last month, oil has returned to the center of global political debate. Prices have moved sharply, physical supplies have been disrupted, and the Strait of Hormuz has again been treated not only as a trade corridor but as a geopolitical pressure point. Reuters has reported major supply losses linked to the current Iran war, record price spikes in physical oil, stress in benchmark pricing, and wider concern in Europe and global markets about inflation, transport costs, a
