By Kunle Odusola-Stevenson In global energy markets, geopolitics has a habit of repeating old lessons. The latest crisis in the Middle East—triggered by U.S. and Israeli strikes on Iran in late February, has again exposed the fragility of the world’s oil supply chain. Iranian retaliation has effectively choked traffic through the Strait of Hormuz, the narrow maritime corridor through which roughly a fifth of global oil and liquefied natural gas passes. Within days, tanker movements slowed sharply and markets responded with predictable speed. Brent crude climbed above $84 per barrel,…
Read MoreMIDDLE EAST TURMOIL BRINGS NIGERIA AN OIL WINDFALL — AND A CHOICE
