Brent Futures Curve Flattens as Black Sea Conflict Reshapes Oil Outlook | Investing.com
Given the current events in Ukraine/Russia in the Black Sea, geopolitical volatility is no longer just a short-term price effect but a long-term factor shaping oil market pricing and investor outlook.The global oil market handles geopolitical flare-ups much like aftershocks. The Gaza-Israel ceasefire, Ukrainian drone attacks on West Siberian oil refineries, or international sanctions typically send future contract prices soaring.This is where backwardation happens; long-term supply encourages pr...