PRESS ROOM
Volatility in oil prices as markets react to latest developments
Friday 11th February '22
Oil prices retreated slightly from their 7-year highs on 08 February as markets began to price in the impact of additional supply from Iran if sanctions against the country are lifted. If talks with the country prove fruitful, Iran could supply another 2 million barrels per day at short notice alleviating concerns around supply tightness. On the other hand, the Russia-Ukraine situation continues to unfold. Markets are currently pricing in a geopolitical risk premium in oil prices. If tensions subside, prices may also cool down in the coming weeks. For now, uncertain variables could push oil prices in either direction.