<h1>Middle Eastern attack on oil producer raises energy security concerns despite limited price impact from spare capacity</h1> A Middle Eastern nation attacked a major oil-producing country, raising concerns about global energy markets and economic growth. The targeted nation exports 2 million barrels daily, mostly to an Asian buyer at discounted prices due to sanctions. However, oil price impacts remain limited due to significant spare production capacity held by major exporters and substantial emergency reserves. Global oil surplus and declining industrial demand in the Asian market have further cushioned price volatility. The conflict's timing appears politically motivated, potentially aimed at diverting attention from regional humanitarian issues. Economic implications include constrained central bank policies, reduced growth forecasts, and increased shipping insurance costs through strategic maritime chokepoints.