According to the oil traders in Global Risk Management, the next month will see events capable of having a decisive influence on oil and bunker prices. These events or game changers are the US-Iran crisis and the second Greek parliamentary election on 17 June; both events are capable of having a very important influence on the price level in the short as well as the long term.
“A meeting has been arranged between the US and Iran on Wednesday (23 May ed.) but it is likely that the meeting will result in nothing and that the parties, as a consequence, choose to arrange a new one in June before the sanctions on Iran are expected to come into force on 1 July”, says oil analyst Michael Poulsen, adding:
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