Strong and stable

摘要

Oil markets used to spike at hints of political unrest in the Mideast Gulf. Now, they merely shrug. Prices barely flickered when Saudi Arabia, the UAE, Bahrain and Egypt announced that they were breaking off diplomatic ties with Qatar. None of this should be a surprise. The oil market has been successfully weathering episodes of supply disruption for several years. High global oil stocks are another layer of security in the strong and stable supply chain.