The last couple of years have seen a series of extraordinary events, most notably the invasion of Ukraine by Russia on 24 February 2022 and the Hamas attacks on Israel on 7 October 2023. This year may well see more equally extraordinary things, with the widening out of the Israel-Hamas War a distinct possibility, as is a ratcheting up of tensions between China and Taiwan, and between North Korea and South Korea. All three would involve the U.S., China, and Russia in one way or another, and all three scenarios carry with them the threat of a sudden spike in all prices. Other events, less predictable, may also emerge that would do the same.
Read More: https://oilprice.com/Energy/Oil-Prices/What-Will-Influence-Oil-Prices-in-2024.html
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Oil Prices Caught between Geopolitics and Economic Worry
By Irina Slav - Jan 03, 2024, 6:00 AM CST
WTI crude briefly fell below $70 per barrel on January 3rd.
Concerns about the state of the U.S. economy continue to outweigh Red Sea tensions.
OPEC said it would meet in February to discuss its ongoing production cut policy.
Read more: https://oilprice.com/Energy/Oil-Prices/Oil-Prices-Caught-between-Geopolitics-and-Economic-Worry.html
Geopolitical Risks impact on Oil Price
Geopolitical Risks impact on Oil Price
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group