Rising oil price: will the US direct intervention work this time?

[hemanthaa@mail.com + 64]

The crude oil price lost the gains of the past two days due to combination of key factors including the direct intervention by the US National Security advisor, despite the matter in question not being in his administrative domain.

Judging by the unusual development, coupled with the chaos across the energy sectors, the OPEC+ will not be able to resist the collective appeal to increase the production any more – at the expense of the security of its de facto leader, Saudi Arabia.

The US intervention, however, is not the only issue that worries the crude oil markets at present.

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