Energy market seen as vulnerable to prolonged Gulf crisis

Energy market seen as vulnerable to prolonged Gulf crisis

While the Gulf’s bitter diplomatic crisis is unlikely to affect energy prices in the short term, a prolonged rift that disrupts Qatar’s gas supplies could send prices soaring, analysts say.

With rising US shale oil output driving a global supply glut, the decision by Saudi Arabia and its allies earlier this month to sever diplomatic ties with Qatar provided only a fleeting boost to prices.

“Given the severe supply glut in the oil markets globally, it is quite unlikely that the Gulf spat would lead to a spike in oil prices in the short or medium term,” M.R. Read More…

 

 

 

Credit By: India

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