“From the capture of Venezuela’s Nicolás Maduro to the war in the Middle East, 2026 has served as a powerful reminder of oil’s enduring influence in geopolitics and the global economy,” the New York Times reports.
“Oil has been both a prize, as in Venezuela, and a potent tool of political coercion, as seen in the U.S. blockade that is starving Cuba of energy. And now, with oil trading above $100 a barrel for the first time in almost four years, the economic risks of going even a short time without full access to energy from the Persian Gulf are becoming clearer by the day.”
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