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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