Quote on crude oil price movement by Rajeev Sharan, Head of Research, Brickwork Ratings
Below the Quote on crude oil price movement by Rajeev Sharan, Head of Research, Brickwork Ratings
"Crude has turned highly volatile, alternating between hope and fear. Prices eased briefly on hopes that Saudi Arabia's damaged East-West pipeline would restart soon and on some signs of de-escalation but surged again as fresh attacks on Saudi energy infrastructure reignited supply fears. Brent is now near USD 108 a barrel, a four-month high, and up about 20% this month. The underlying worry is real: the pipeline outage alone threatens up to 4% of global supply and may take weeks to repair, so every relief rally is quickly overwhelmed by the next headline. Until the strikes stop and cargoes move freely, the risk stays skewed to the upside, and prices could well test USD 120+ levels if the disruption deepens. For a large importer like India, this keeps pressure on the import bill, the rupee, and inflation."
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