US economic sanctions on Iran pose a significant risk to Turkey’s energy supply, as the country is Iran’s third-largest trading partner. This situation arises as Turkey, a US ally, could see its energy imports disrupted if sanctions are strictly enforced. The resulting geopolitical tension could act as a bullish factor on global crude oil prices. Prediction markets are registering slight fluctuations in the probability of crude oil reaching a new all-time high by year-end.
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