Oil prices saw a slight dip as markets grappled with escalating U.S.-Iran tensions threatening energy infrastructure, juxtaposed with the release of Iranian oil. Despite short-term profit-taking, analysts predict a surge towards $120. The conflict has severely impacted Gulf production and shipping, prompting Iraq to declare force majeure and India to consider resuming Iranian oil imports.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets