"...demonstrates that the U.S. is not in charge of oil or gas prices. Instead, the oil market is quite interconnected across different countries, and one ripple anywhere in the world oil market causes a tidal wave across the globe. That means war in the Middle East has a similar effect on the price of a barrel of oil from Oklahoma as it does on oil from Tehran. And then there's the fact that oil is traded on the market as a global commodity, with prices fluctuating up and down like stock values."
pull down to refresh
It’s actually because we are net exporters that prices are guaranteed to rise.
For us it’s a huge increase in demand, with a relatively steady supply.
net is also pretty important. Oil/gas isn't one, unified commodity; many different things, at different qualities and important: physical places!