The path of least resistance of the price of crude oil is a complex jigsaw puzzle that includes micro and macroeconomic factors, and geopolitical considerations. What complicates the process of analyzing the energy commodity from a fundamental perspective is that more than half the world's reserves and some of the most significant logistical routes are in the Middle East. With production and shipping in the world's most turbulent political region, the crude oil market is always susceptible to wide price swings.
Events like the Islamic Revolution in the late 1970s or Arab oil embargo during