Middle East Tensions and the Evolving Global Energy Landscape

Amidst tensions in the Middle East and recent attacks on Iran, global oil markets have stabilized with Brent crude around $66, and prices are expected to remain in the $55-70 range, reflecting a rebalanced market influenced by increased U.S. and Gulf Arab production, a slower energy transition, and shifting geopolitical dynamics. The crisis has not caused significant disruptions, and the U.S. has become a key player in global energy security, with a diversified production landscape including Canada and Brazil.