The World’s Mineral Powers Seize Their Moment
Resource-rich countries haven’t always benefited from extraction. Can this time be different?
"You can debate whether that’s going to hit those really low levels in two weeks or three weeks. Once you get to that point, then you’ll see price shoot up.”
Strategic petroleum reserves are declining rapidly as countries release emergency crude supplies to cushion the economic impact of the Middle East conflict.
The US-Israeli war against Iran highlights the Gulf’s dual role as the backbone of global energy supply and a major source of systemic risk.
Within days of the initial U.S. and Israeli attack on Iran on February 28, 2026, the world was plunged into an energy crisis.