Global oil prices continue to increase due to various interacting factors. Growing demand, geopolitical tensions and natural disasters are the main drivers of significant price changes. Most countries, especially those dependent on oil imports, feel the direct impact of these fluctuations. One of the main factors is the increase in demand post-pandemic. Since the easing of COVID-19 restrictions, economic activity in many countries, especially in Asia and Europe, has experienced a surge. The transportation and industrial sectors are booming again, causing energy consumption, especially oil, to increase sharply. According to a report from the International Energy Agency (IEA), global demand is expected to reach pre-pandemic levels by the end of this year. Apart from that, geopolitical tensions in the Middle East and Eastern Europe also contributed. Conflicts occurring in oil-producing countries such as Libya and Iraq affect supply stability. The situation in Ukraine has also sparked market concerns about gas and oil supplies from Russia, which is one of the main producers. The global community is trying to find alternatives, but this transition process takes time and cannot offset short-term price spikes. Natural disasters, such as tropical storms that can destroy oil drilling and processing infrastructure, also play a role. For example, in recent years, hurricanes that hit the Gulf of Mexico disrupted oil production in the region. As a result, supply decreases while demand remains high, causing prices to spike. In response to rising prices, OPEC+ (the Organization of the Petroleum Exporting Countries and its allies) frequently meets to discuss production policy. The decision to cut or increase production has a direct impact on global prices. However, despite efforts to stabilize the market, these decisions are often not enough to prevent sharp fluctuations. In addition, the clean energy transition is also starting to change the dynamics of the oil market. Despite the move towards renewable energy, oil remains the primary energy source in many sectors. However, investment in green technology can reduce future dependence on oil. Large companies in the energy industry are starting to plan diversification to ensure sustainability in the face of erratic price fluctuations. Ultimately, support for environmentally friendly energy policies and shifts in consumer behavior could shape more sustainable demand patterns. However, in the short term, global oil prices are likely to continue to fluctuate, influenced by a complex combination of factors. Market players, governments and society must be ready to face this challenge to maintain global economic stability.