The market is nervous already because Iran is coming more into the picture with the talks with Russia next week. Now with Nigeria, the risks are getting higher. If we see any disruptions to oil production, prices could easily go back up.
The market is nervous already because Iran is coming more into the picture with the talks with Russia next week. Now with Nigeria, the risks are getting higher. If we see any disruptions to oil production, prices could easily go back up.
I expect the oil market to remain tight for the rest of the year, so there will be resistance for prices to move lower. Markets are worried about the upside risks. Four refineries are still out and it will take time before production is up.
© 2020 Inspirational Stories
© 2020 Inspirational Stories