Insuring oil, shaping power: The hidden geopolitics of Middle East energy

For decades, the geopolitics of Middle East energy has been defined by a familiar set of variables: oil reserves, production capacity, strategic waterways and military power. Analysts have traditionally focused on OPEC decisions, energy sanctions, pipeline routes and maritime chokepoints such as the Strait of Hormuz and the Bab Al-Mandab Strait. Yet one of the most powerful forces shaping contemporary energy markets operates largely outside public attention. It does not own oil fields. It does not command military fleets. It does not participate in diplomatic summits. Nevertheless, it possesses the ability to influence global energy flows, alter shipping decisions and affect the economic viability of energy exports. That force is energy insurance. The hidden infrastructure of global energy trade When […]