Global Energy Markets Face New Era of Shocks Amid Geopolitical Tensions
The global energy landscape is experiencing a series of shocks due to geopolitical tensions, military conflicts, and the transition to low-carbon energy sources. Recent events, such as the war in Ukraine and the Iran conflict, have disrupted oil and gas supplies, highlighting vulnerabilities in the current energy model. The blockage of the Strait of Hormuz by Iran has further exacerbated these disruptions. The shift towards renewable energy is accelerating, driven by the need for energy security and independence. However, this transition also introduces new dependencies on low-carbon technologies, primarily concentrated in China, raising concerns about trade and industrial tensions. 
