The world oil market is subject to such a variety of forces-from geopolitical turmoil to strategic moves on the part of leading bodies like OPEC+. The action over recent days brought into the foreground once more the sensitive response of quotations to these factors.

Geopolitical Tensions and Their Impact
The market for oil is growing tense, reflecting developments in the Middle East, especially after the recent air attack in Gaza killed three sons of Hamas leader Haniyeh. It further raised the tension in the region and created apprehensions of a further escalation with the involvement of Iran. Oil prices rose accordingly to reflect the developments. Brent futures stand above $90 per barrel, while West Texas Intermediate stands above $86 per barrel. That goes a long way to show how the presence of geopolitical turmoil-whoever manufactures vulnerability into the markets in those parts of the world which are very vital to the production and supply of oil.
US-Iranian Tensions, Israeli Strikes: A Trigger for Price Fluctuations
Added to the U.S.-Iran complications and what that meant for Israeli security, adding another layer of complexity. Warnings from U.S. intelligence about possible Iranian strikes on Israeli targets in retaliation for an Israeli airstrike on an Iranian consulate in Syria have further heightened market uncertainties. The fragility of the geopolitical situation thus kicked off events such as the suspension by Deutsche Lufthansa AG of its flights to and from Iran, reflecting wider fears over regional stability.
OPEC+ to Play Pivotal Role in Oil Markets
Aside from geopolitics, strategic decisions by OPEC+ will also be key in determining the price of oil. Comprised of top Middle Eastern producers and Russia, the group has managed to wrest back control of the market and might keep it tight into the second half of the year. This becomes the visible control in the bullish sentiment of oil, as market analysts believe that robust global demand growth coupled with supply constraints including cuts by OPEC and Russia will drive prices even higher. With these factors in place, investment banks are not ruling out the oil reaching $100 a barrel this year.
U.S. Oil Inventories and Economic Factors
Domestically, the U.S. oil inventories have recorded a surprise build that was large. Though this may imply that world oil supplies are not as tight as had been thought, it still points to cooling fuel demand in the world's biggest fuel consumer. This, plus sticky inflation and higher-for-longer U.S. interest rates, could weigh down on economic growth and suppress oil demand.
Conclusion
Geopolitical influences, strategic decisions taken by leading oil-exporting countries and their alignments like OPEC+, in addition to economic factors, have brought the oil market into its present shape. They would continue to shape oil prices in the future too and push global markets and economies in their direction.
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