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Despite escalating tensions in the Middle East, oil prices have remained relatively stable. Dan Pickering, CIO of Pickering Energy Partners, explains that high U.S. production is acting as a "strategic cushion," helping to balance the market amidst geopolitical unrest.
"I think the supply and demand equation is unchanged, even though the risks of the supply and demand equation are changing." Pickering emphasized that while global events add complexity, the fundamental market dynamics are holding firm for now.
