The Next Bull Market Could Be Built on Inventory Replenishment

AI Summary

Renewed military confrontation involving Iran has placed the Middle East at the epicenter of global energy markets. Despite current crude oil prices responding to conflicts, shipping incidents, and diplomacy, structural consequences of recent months must not be overlooked as the world faces a weaker strategic safety net.

The Middle East is once again at the center of global energy markets due to the renewed military confrontation involving Iran. Markets, however, should recognize that, unlike in previous crises, the world is entering this new phase with a significantly weaker strategic safety net. At present, crude oil prices still respond to headlines surrounding military operations, shipping incidents, and diplomatic statements. Still, it is now time that markets should no longer overlook the structural consequences of the past months. The world’s emergency…