Oil markets are defying expectations as Brent crude prices have surged over 60% since the start of the conflict, even as global supply begins to recover. The unexpected rally reflects persistent supply chain disruptions and geopolitical tensions keeping upward pressure on energy costs. Analysts are divided over whether the spike signals long-term structural changes or a temporary correction amid shifting production dynamics. Traders and policymakers are closely watching whether the rebound in output can offset lingering demand concerns.
Brent crude prices are up more than 60 percent compared with pre-war levels, despite rebound in supply.
