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Showing posts from February 20, 2022

Oil price goes through the roof after Ukraine invasion

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  The unthinkable did happen, in the end; Europe sees the biggest military conflict since the Second World War and President Putin’s ominous warning against interference is reverberating across the world. The anxiety is palpable and the stock markets across the world just reflects it. As the news of the full scale invasion sank in, the price of crude oil crossed the psychologically-crucial $100 mark in the early hours of today. As the tension between Russia and the West has never been higher since the Cold War, the conflict could get really serious and scary, of course, depending on the President Putin’s ultimate intentions; he said he did not want to occupy Ukraine, something that has to be seen. Although the West has not spelled out the touch-sanctions that they had been talking about for the past few months, there will be real issues when it comes to implementing they, as they inevitably hurts the Western interest too; President Biden has already acknowledge that was the cas

Oil price: volatility continues in the crude oil markets

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  The fluctuations of the crude oil prices continue unabated, sandwiched between the volatility along the border between Russia and Ukraine and the optimism about the revival of the JCPOA, 2015 Iranian nuclear deal. On military front, the Security Council Meeting of Russia, convened hurriedly by President Putin, did not imply an imminent invasion. Neither did it offer an olive branch to its beleaguered neighbour and foe, Ukraine. President Putin reiterated his demand of a return guarantee from the NATO that Ukraine would not welcome to join the former, if the West is serious about de-escalation. The palpable tension in the region is fuelling the uncertainties in many sectors, ranging from airlines to stock markets. The crude oil markets did not get a respite from it either. The price of crude oil that fell slightly last week, picked up again and its direct impact on economy is blatantly obvious with global inflation skyrocketing. The upward trend of the crude oil prices was s

Optimism about Iran's entry into crude oil markets gathers momentum!

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Optimism about Iran's entry into crude oil markets gathers momentum!  The relatively optimistic – and less confrontational - atmosphere at the talks involving the signatories to the JCPOA, 2015 Iran nuclear deal, have made analysts taking an intense interest in the development – once again. Last week, against all odds, Amir Abdollahian, the Iranian Foreign Minister, said that Iran was in a hurry to revive the JCPOA, which in turn made the talks a focus that is worthy of attention. A few days later, he even went further by saying that Iran was prepared for a prisoner swap with the US, saying it was a humanitarian issue that got nothing to do with the ongoing nuclear negotiations. The palpable optimism about the revival of the JCPOA got yet another boost this week when Ayatollah Ali Khamenei, the Iranian Supreme Leader, said that Iran never wanted to make nuclear weapons; he made it clear Iran’s nuclear programme is for peaceful needs.     The direct intervention, none