'Volatile: Oil market much more resilient than in 1970s' as conflict speculation drives price swings

Peter O'Brien is pleased to welcome Dan Marks, Research Fellow in energy security at the Royal United Services Institute. He views the global oil system as significantly more resilient than in past crises, in stark contrast to the 1970's. The current oil price movements being driven less by immediate physical disruptions and more by evolving expectations around the trajectory of conflict. While recent signals from political actors have temporarily eased fears of direct strikes on key facilities, volatility remains rooted in uncertainty rather than material scarcity.