Rising military tensions in the Middle East have brought energy prices into focus, but oil prices have actually fallen. Brent crude dropped from $97.81 on June 3 to $93.66 on June 11.
Economist Khalid Karimli says the market has adapted to geopolitical risks. New news has less impact, and markets no longer react emotionally.
Karimli notes that slowing global economic growth reduces oil demand, while stable supply prevents price increases.
