Oil Price Remains High on Global Turmoil 

The price of oil retreated slightly Friday but remained elevated because of political turmoil around the world.
Concern that conflicts and rising tensions in the Ukraine and the Middle East could disrupt supplies sent oil prices higher this week, though the world appears to have an ample supply of crude and supplies have not been affected. The industry calls this higher price, based only on fear, a risk premium. Developments during the past couple of days have added to a long list of geopolitical hot spots, wrote energy analyst Jim Ritterbusch in a note to clients, which he says will force the oil complex to maintain significant amount of risk premium.
Source: AP

Leave a Reply

Your email address will not be published. Required fields are marked *