Middle East Conflict Impact on Oil Markets

The conflict between the USA, Israel and Iran has been the biggest geo-political event to impact the oil market for decades, creating unprecedented disruption across crude, refining and product supply chains.

In this video insight, Argus expert Francis Osborne (Head of Oil Analytics), explores how markets have responded to the crisis, why oil prices have remained more resilient than many expected, and where the greatest risks now lie.

While crude markets have largely adapted through strategic stock releases, lower demand and shifting trade flows, refined products tell a different story. Disruptions to refining capacity in both the Middle East and Russia are tightening global fuel supplies, with diesel markets facing particularly acute pressure.

Fill in the form to watch the video and discover:

• The impact of the conflict on global oil markets
• How crude markets have absorbed major supply disruptions
• The role of strategic stock releases, demand reduction and changing trade flows
• The implications for refined products, LPG and regional fuel supply
• Refinery outages across the Middle East and Russia and their effect on market balances
• Why diesel markets have tightened sharply and what this means for prices and refining margins
• Key risks and scenarios to watch for the remainder of the year