The new Atlanta Fed president says geopolitical tensions in the Middle East could dictate whether price pressures finally cool after five years above target. On the other, a volatile Middle East conflict that threatens to disrupt oil supplies and send energy prices spiraling. The Middle East variableThe core of Venable’s warning centers on energy markets. Ongoing conflict in the Middle East has the potential to disrupt oil shipments, and a resolution to those tensions could stabilize energy costs. Energy-sensitive sectors face heightened uncertainty, as a single escalation event could send oil prices sharply higher, rippling through supply chains within weeks.