Market Mayhem: When Oil Prices Dance to Diplomatic Tunes The recent surge in global stocks has left many wondering about its causes.
A closer examination reveals that crude oil prices have taken a dramatic turn – and it's all about politics.
Crude oil prices plummeted as officials hinted at a deal between the US and Iran to reopen the Strait of Hormuz, a critical waterway through which nearly a quarter of the world's oil exports pass.