The global oil market’s reaction to rising conflict in the Middle East has been subdued so far, as supplies remain flush and shipping routes mostly uninterrupted. But even if Tehran were to attempt to close the Strait of Hormuz, the US is far less prone to global supply and price disruptions than in decades past.
“We’re way less vulnerable than we’ve been in years past,” Bracewell’s Frank Maisano told WyoFile. “We’ve just seen much more minimal impacts [from world oil markets] because we’re inoculated against it because of all the production we have going in the US.”
“There’s always some potential impacts when you talk about conflicts, especially in the Middle East,” Maisano added. “But global markets today are just more resilient compared to where we used to be. It’s because we’ve transformed ourselves into a global energy superpower.”
