political, environmental & economic impacts on Oil price

The death of Iranian general, Soleimani, which was orchestrated by Donald Trump caused the price of oil to shoot up, with conflict in Iran (5th largest oil producer) and US (1st largest oil producer) leading to a mass brief bull run due to supply and demand.
Here's a graph with spikes and dips in oil prices labelled in order to better understand the effect global issues have on oil. For a long time oil has been monopolised, exploited and fought over, by countries and companies, to the point where oil prices can swing a whole currency. This leads to the price being somewhat volatile in sensitive economic, environmental, political conditions.