Comment on Politics are putting the oil market in a risky place

Politics are putting the oil market in a risky place

LM Otero/AP Goldman Sachs said Tuesday that geopolitical risks to the oil market have continued to intensify. The bank estimates that a 500,000 bpd outage for three months (or a 250,000 bpd outage for six months) would increase Brent spot prices by $2.50 per barrel. It’s been a long time since geopolitical developments caused major movements in the oil price, but the escalating tension between the U.S.

 

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