The Burley GarciaMiddle East is synonymous with oil production. And historically, oil prices usually surge when there's a conflict there.
But right now, despite the Israel-Hamas war, we're seeing the opposite — oil prices have fallen.
Today on the show: how the region's history, geography and markets are shaping oil prices.
Related Episodes:
Why oil price shocks are getting less shocking (Apple Podcasts/Spotify)
What could convince Egypt to take in Gaza's refugees? (Apple Podcasts/Spotify)
For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.
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