Is Current oil spike is just because of situation derived by geopolitical tension?

Oil prices are now touching the magical figure of $72. But is this sudden spike in oil prices are fundamental or it is just because of trade war situation derived by Geopolitical Tension between Russia-USA, Syria-USA, Sunni-Shia conflict. If this spike is just because of Geopolitical then we can see oil again at $65 in few weeks once the impact of this tension gone. And one thing that we can not miss here that Saudi Arabia is very optimistic towards oil prices and they are eagerly waiting for oil prices at $80. well I am not sure about any oil conspiracy.

Share this post


Link to post
Share on other sites