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Oil flows despite Spring

There has been little disruption to the global supply of oil. But for how much longer?

By Said Hirsh   September 2012

An Iranian soldier participates in military exercises near the Strait of Hormuz

The impact of the Arab Spring on the rest of the world is perhaps best manifested by the spike in oil prices due to fears of supply disruptions. But early concerns were overdone—revolution did not reach the oil-rich Gulf countries. Instead, the bigger factor keeping upward pressure on oil prices is the concern that simmering tensions between Sunnis and Shiites in the region, coupled with the west’s tough stance on Iran’s nuclear programme, might soon drag the Arab world…

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