World oil markets have responded with surprising resilience in the face of uncertainty, but are prices set to rocket?
With much of the media focus over recent weeks on the political crisis in Ukraine and EU and US sanctions against Russia, Europes future energy security seems further adrift than ever.
But Europes biggest problem isnt this winters gas supplies; it is our economys continued reliance on imported fossil fuels oil in particular. Some of the most important dynamics affecting oil markets today are happening in the Middle East.