The recent killing of Iranian General Qassem Soleimani by the U.S. and the subsequent Iranian attack on Iraqi military bases housing U.S. soldiers have once again brought geopolitical risks to the forefront of oil markets. Given the global oil market has been in a deficit and nearly all spare capacity globally is held in a few key Gulf Cooperation Council countries, any disruption to oil production or exports from the region would likely have meaningful implications for oil prices.
Below, we discuss three hot spots we are monitoring. These areas of greatest concern today tilt