The global oil market has demonstrated remarkable resilience despite losing more than a billion barrels of supply during the Iran conflict, avoiding the severe fuel shortages many had feared. However, according to a Reuters analysis, the depletion of strategic reserves and lingering geopolitical tensions have left the world vulnerable to renewed oil price volatility in the years ahead.
The four-month conflict, which began after U.S. and Israeli attacks on Iran, triggered widespread concerns that disruptions to the Strait of Hormuz would choke off one of the world's most critical energy routes. At the height of the crisis, global oil supply losses reached an estimated 14 million barrels per day, making it the largest energy disruption on record, according to the International Energy Agency (IEA), Reuters reported.
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