Conflicts in the Middle East lead to drop in oil prices, impact on global energy supply

From Yahoo Finance: 2025-06-25 13:40:00

Iran’s missile attack on a U.S. military base in Qatar caused a sharp drop in benchmark U.S. crude prices, highlighting a global oil surplus. Gasoline prices are expected to fall soon as motorists benefit from the oversupply of oil. The U.S. now leads in oil production, resulting in lower prices and decreased drilling activity. Despite this, global oil demand is weakening due to increased use of alternative energy sources and electric vehicles, impacting oil prices. Major tech companies are investing in nuclear power to meet energy needs, further reducing the demand for crude oil.



Read more at Yahoo Finance: Middle East conflict highlights how vastly the global energy supply has changed in recent years