"When they returned to their trading desks on that March Monday morning, they found oil and gas prices spiking amid a market nightmare made real: the unprecedented shutdown of the vital trade route through the strait of Hormuz."
"In the weeks since war engulfed the Middle East, global energy markets have whipsawed in response to the escalating conflict as it throttled flows of fossil fuels to the global market and damaged the vital energy infrastructure underpinning the Gulf economies."
"If you're not sure which way the market is going to go on any given day, you can still lose money, one industry source said."
The onset of conflict in the Middle East led to a spike in oil and gas prices, particularly after the shutdown of the Strait of Hormuz. Traders were caught off guard, with some suffering significant losses due to miscalculations. The volatility in energy markets resulted in dramatic price fluctuations for Brent crude and other fossil fuels, impacting global markets and raising concerns about the economy. While volatility can create trading opportunities, it also poses risks for those managing physical energy transactions amid logistical challenges.
Read at www.theguardian.com
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