Oil Markets Brace for Prolonged Turbulence as Middle East Conflict Upends Supply

Energy executives at CERAWeek warn the US‑Israel war with Iran has triggered an unprecedented supply shock, risking Hormuz disruption and Gulf assets damage while prices stay elevated and markets remain volatile. White House energy officials urge producers to accelerate drilling to mitigate disruptions, but industry leaders say there’s little precedent for a rapid supply response; some majors skipped the conference and others cite Venezuela or Alaska as possible short-term suppliers, though reforms and timelines are uncertain. The turmoil could boost longer‑term renewables investment and fuel stockpiling as policymakers and markets navigate the crisis.