Is Cheap Oil Gone for Good? The World’s New Price Normal.

Global oil markets are being reshaped by the Middle East conflict, disrupted Strait of Hormuz traffic, and higher insurance/transport costs, creating a persistent risk premium that keeps prices above pre-crisis levels. While prices have dipped below $100 on short-term peace hopes, the long-run outlook suggests the era of cheap, stable oil may be ending as supply becomes more costly, volatile, and slower to scale. This will tighten daily costs from fuel to plastics and construction, prompting governments and industries to rely more on stockpiles, efficiency, and a shift toward greener energy—yet a return to the old