Piracy thrives in the Red Sea, and the International Energy Agency predicts an oil deficit on the world market soon, but prices continue to fall.In fact, there is chaos in geopolitics, not only in the Middle East and Eurasia but also in Latin America, pushing the gold price to new all-time highs, yet oil does not react much.Why is this?Despite the war in Israel and Yemeni Houthi attacks on merchant ships in the Bab-el-Mandeb strait, there are no disruptions in oil supplies.The recent OPEC+ meeting did not change things much, either. The alliance supported prices, but production cuts were minor than expected:Saudi Arabia extended the current production cut, and Russia agreed to extend th
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