Will oil price soar without a major war (in the middle east)?
Oil price reflects macroeconomic situation as well as geopolitical tensions in major oil producing countries.
One would surmise that demand in the coming months is likely to remain low, while price war among oil producing countries continues. On the other hand, if major conflicts break out, price could easily double within a week's time.
I'm keeping this note and will revisit if this happens.
One would surmise that demand in the coming months is likely to remain low, while price war among oil producing countries continues. On the other hand, if major conflicts break out, price could easily double within a week's time.
I'm keeping this note and will revisit if this happens.
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