Wars especially in the middle east traditionally were triggers to oil price surge. While the world is trying to go green, there are still big consumers out there which must have no choice but to rely on oil to power themselves. The war in the Middle East inbihited oil harvesting and conveyance and consequently led to the surge in prices as a basic economic function of supply and demand. And this may not be a necessary bad factor to the oil producers, which can scale down and slow down their oil export while maintaining profit margin.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
