Reported about 18 hours ago
The oil market remains complacent about the geopolitical risks from potential increased sanctions against Iran and Russia, according to Bob McNally of Rapidan Energy Group. With indications that the next U.S. administration may intensify sanctions, the oil production from Iran could drop significantly, further impacting global oil supply. As tensions rise, the oil prices are responding upward, yet any significant increase in U.S. oil supply seems unlikely without OPEC+ cooperation.
Source: YAHOO