Why the Oil Market Is Not Shocked
About a month ago, I was greeted by a welcome sight at the gas station in Connecticut where I usually fill my tank: the price of regular had fallen below $3 a gallon. In the weeks that followed, however, the Middle East was racked by escalating conflict. Israel—which was already in the middle of a nearly year-long invasion of Gaza—assassinated the Hezbollah leader Hassan Nasrallah with an air strike in Beirut.

























