Oil, Nukes, and Proxy Wars: The Middle East's Perfect Storm The recent escalation of hostilities between Saudi Arabia and Iran, coupled with the signing of a nuclear power agreement between the US and Saudi Arabia, has sent alarm bells ringing around the globe.
As oil prices soar above $100 per barrel for the first time since June, the situation on the ground is increasingly volatile.
The Houthi attacks on Saudi tankers in the Red Sea's Bab el Mandeb Strait have exposed the fragility of global energy supplies.