The Guardian · 23 Oct, 11:35 · Business briefing

Oil price rises above $117 a barrel amid fears US will renew strikes on Iran

Crude oil prices have surged past $117 per barrel, driven by escalating geopolitical tensions.

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The briefing

The story
in brief.

What happened, who it affects, and why it landed on our intelligence desk — in plain English, sixty seconds or less.

Crude oil prices have surged past $117 per barrel, driven by escalating geopolitical tensions. The price spike reflects market anxiety regarding potential renewed US military strikes on Iran, a key global energy producer. This development underscores the volatility inherent in energy markets when faced with geopolitical instability. For professionals, this signals immediate pressure on global supply chains and inflationary risks. The situation highlights the interconnectedness of international politics and commodity pricing, requiring stakeholders to monitor geopolitical developments closely as they directly influence economic forecasts and corporate operational costs worldwide.

Employer demand for Crisis Management skills — indexed growth since 2019
Indicative index of skill mentions in professional job postings for the field this story moves (2019 = 1)

Your move

What this means
for your career.

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You must now prioritise risk mitigation and supply chain resilience in your strategic planning. Geopolitical volatility directly impacts operational continuity, making expertise in Crisis Management and Risk Management Strategies invaluable. Professionals in logistics, procurement, and finance should monitor these shifts closely, as cost fluctuations will affect budgeting and vendor negotiations. You should enhance your ability to model financial uncertainty and advise leadership on contingency plans. Upskilling in these areas positions you to navigate market shocks effectively. Consider how your role adapts to sudden price hikes; proactive adaptation demonstrates strategic foresight. Focus on developing robust frameworks for decision-making under pressure, ensuring your organisation remains agile amidst external economic turbulence and potential resource constraints.

For this story, the fields that convert it into pay are Crisis Management, Risk Management Strategies, Supply Chain and Finance and Accounting — exactly the programmes matched below. The chart shows the indicative salary uplift certified professionals report in each of those fields; every one of them is a click away, from £79, finishing in as few as 20 days.

Indicative salary uplift in the fields matched to this story
Indicative ranges from published continuing-education salary studies, by field — each field is a recommended course below

Matched to this story

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