ENERGY

Authored by Alex Kimani via OilPrice.com,

• Commodity experts are now saying the oil markets have underpriced the risk of further escalation of the Israel-Hamas conflict.

• The price response to the escalation in the Middle East tensions has so far been modest.

• StanChart: Middle East geopolitical risk is currently being significantly under-priced and the current fundamentals alone are enough to justify a complete reversal of this month’s price undershooting.

Last week, (more…)

Authored by Charles Kennedy via OilPrice.com,

UK Energy Secretary Claire Coutinho warned on Wednesday that Britain will see North Sea oil and gas production halve by 2030, placing the UK at the mercy of external forces should the Labour Party government come to power and refuse to allow new offshore drilling. 

Coutinho said the UK would be forced to import up to 80% of its oil and gas by 2030, rendering it “subservient to foreign regimes” and “decimating the same (more…)

Oil prices are higher from yesterday's close but well off their overnight highs this morning after the hospital attack and strong Chinese data sent crude soaring and then prices started…