Oil market concerns over Middle East hostilities became almost exclusively focused over the past week on the Strait of Hormuz and the potential for short-term disruption.
The conflict between Israel and Iran has put global prices on a roller coaster, but also underscored the importance of the U.S.’s evolution into a global energy powerhouse with safe and secure oil and gas supplies.
Curious Minds Corner
What’s the real difference between “crude oil” and “petroleum”?
Crude oil is the raw, unrefined liquid from the ground. Petroleum is a broader term including crude oil and all the products refined from it (gasoline, plastics, etc.).