Oil prices expected to fluctuate due to Middle East conflict
The ongoing conflict in the Middle East is impacting oil prices, causing them to be highly volatile.
Companies such as ExxonMobil, Chevron, and Shell have warned that oil prices are likely to remain high even after the conflict ends.
The near-term issue is about supply and demand, with supply taking time to restore to pre-conflict levels and oil stockpiles needing time to replenish.