Brent Crude & Gulf Cooperation Council

Brent Crude: Brent Crude prices have been significantly affected by supply disruptions due to the Iran war and the effective closure of the Strait of Hormuz, with the United Arab Emirates' exit from OPEC potentially adding to future price volatility.

Gulf Cooperation Council: The Gulf Cooperation Council has been criticized by the United Arab Emirates for its weak political and military response to Iranian attacks, contributing to the United Arab Emirates' reassessment of its multilateral ties.

Gulf Cooperation Council: The Gulf Arab states, members of the Gulf Cooperation Council, are considered the biggest losers in the conflict, facing the prospect of a more bitter and harder-line Iranian leadership and heightened confrontation to keep the Strait of Hormuz open.