The article explores how conflicts around the world affect oil prices. By analyzing different types of conflicts and regions involved, the researchers found that conflicts can lead to significant increases in oil prices. They discovered that armed conflicts can cause abnormal returns before they officially start, but the overall impact on oil prices is similar to other types of conflicts. The region where the conflict occurs has a bigger impact on WTI oil prices compared to BRENT. Additionally, previous oil exports from the conflict region have a positive effect on oil prices, resulting in higher abnormal returns.