Oil's Endless Cycle of War and Price Volatility The latest escalation between the US and Iran has pushed oil prices above $100 a barrel, marking a threshold not seen since July.
This development is merely the latest manifestation of a familiar pattern: the perpetual dance of tit for tat strikes in the Middle East, where every fresh round of violence sends oil markets into a tailspin.
The conflict between Iran and the US is only one aspect of a broader regional instability that has been complicated by the involvement of various proxy forces.