13:15
Global crude oil prices could revisit the highs seen earlier this year if tensions between the United States and Iran continue to escalate, although Asian refiners are now better prepared to deal with supply disruptions than they were at the beginning of the conflict, June Goh, Senior Oil Market Analyst at Sparta Commodities, told ANI.
Speaking in an exclusive conversation with ANI on Thursday, Goh said the sustainability of the recent rally in Brent crude, which has climbed back to around USD 80 per barrel, will depend on whether geopolitical tensions continue to intensify.
She said the recent exchange of strikes between Iran and the US, along with Washington's decision to withdraw the 60-day waiver on Iranian oil sales, points to a clear escalation in the conflict.
"Unless we see another new MOU signed or a new stance from Trump and also from Iran, I think it's going to continue for a little while," she said.
On the outlook for crude prices, Goh refrained from giving a specific price target but said the market remains on an upward trajectory if tensions persist. -- ANI
