Saxo Group Videos

Videos Channels Search

What next for oil and gas as global tensions rise?


Are oil prices beginning to stabilise after last week’s rally? Saxo’s Ole Hansen believes so, despite the ongoing violence in Iraq. He says because supply pipe lines have not yet been disrupted in southern parts of the country, the market is more settled. However, Hansen stresses that Brent Crude must stay above USD 111 per barrel and for WTI above USD 105.

There is though some good news after US oil production rose to a 44 year high. Although the country cannot export that by law, Hansen believes that could change which would help alleviate potential supply pressure. There’s also talk that the US and Iran could hold discussions about the Iraq crisis, perhaps even leading to the pariah state increasing exports.

Meanwhile Russia says it has cut off gas supplies to Ukraine after Kiev failed to meet a deadline to pay its large bill. But no need to panic says Ole Hansen. He believes it shouldn’t have an impact on gas flows through Ukraine to Europe. Furthermore because of summer temperatures demand in Ukraine is low. Hansen, however, warns that a solution will have to be found over the next few months as demand picks up.

02:19 minutes
Tags: brent, brent crude, brent geo-political, brent wti spread, equity, euro, europe, gas, gas industry, gas price, gas prices, gas production, gasolina, gasoline, iran, iran sactions, iranian sanctions, iraq, oil, oil and gas, oil commodities, oil demand, oil industry, oil market, oil price, oil prices, oil production, oil refinery, oil stocks, oil supplies, oil supply, oil trading, ole hansen, olehansen, russia, russian, saxo bank, saxo tv, tradingfloor.com, ukraine, ukraine commodities, ukraine crisis, us, usd, wti, wti and oil, wti brent, wti brent spread, wti crude, wti crude oil, wti price, wti supply, wticrude

Switch to