Are oil prices truly reflecting the geopolitical risks in the Red Sea? ...Middle East

Analysts at J.P. Morgan are estimating that currently there is no geopolitical risk premium in oil prices, despite all the attacks on the Red Sea:Shipping disruptions are "easily handled"rerouting tankers around the southern tip of Africa adds only $2 a barrel to oil pricesGulf Arab states rely extensively on overland pipelines The Wall Street Journal (gated) followed up on this with snippets from other bank analysts:Lack of oil supply disruption: No major interruptions have occurred, and this "explains much of the sanguine response in the oil market," wrote Caroline Baine, chief commodity strategist at Capital Economics says there have been no major interruptions to oil supply Macquarie say

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Last updated : 22 January 2024 clock 05:37 AM

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Are oil prices truly reflecting the geopolitical risks in the Red Sea? ...Middle East

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