All eyes are on crude oil after US Secretary of State Antony Blinken hints at a potential ban on Russian oil and gas imports, and amid delays in Iran nuclear deal talks. Vandana Hari of Vanda Insights discussed this further.
She doesn’t think oil will see USD 200 per barrel. “I have a feeling that something more dramatic will happen, more countries will intervene who can put some sort of diplomatic pressure on Vladimir Putin, so I don’t think we will see UDS 200 per barrel,” she said.
If Ukraine is completely out of the situation, there is no reason brent should go back to USD 80 per barrel, she said.
Russian oil supplies have already started to get disrupted indirectly because of the US sanctions. It is a fight to the finish, neither side is in a mood to back-off and both sides are running out of options, so much before the nuclear weapon option, far bigger nuclear option for both sides is waging the war in the energy market space, she said.
For the full interview, watch the accompanying video.
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