The price of crude oil remained remarkably stable throughout the week, despite ongoing volatility in Syria and a deepening energy crisis in Iran, which holds the world’s fourth-largest proven oil reserves.
Analysts had anticipated a modest surge in oil prices due to the swift military advancements by rebels in Syria. These forces, making rapid progress towards Damascus with little resistance, initially suggested potential disruptions. However, as the situation on the ground stabilized, the energy markets quickly settled back into their familiar patterns, with prices showing little fluctuation.
