ShippingWatch

Crisis in Iran may trigger huge oil price fluctuations

The Danish company, Global Risk Management expects to see an average oil price of approximately USD 126 a barrel in the second quarter of 2012 but the crisis in Iran may trigger a period of turbulence. Shipping companies uncover much of the risk.

Average oil prices of about USD 126 per barrel; so is the assessment of Global Risk Management in the quarterly report which will be published on Monday. Oil Risk Manager, Michael Poulsen, underlines that they are talking about an average opening up for possible massive fluctuation. This might happen as a result of the political insecurity about the situation in Iran.

This Wednesday, the American oil stocks will send out their latest figures showing a building up of inventory whereas the European depots are smaller at this time of year than they have been for many years and thereby making prices go up.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Latest news

See all jobs