: Ongoing tensions in the Middle East , with the potential for further escalation, are poised to drive crude oil prices higher - a development that could significantly benefit net-exporting oil-producing countries, according to economists.
As of the time of writing, West Texas Intermediate crude traded at US$89.98 per barrel , with Moody’s projecting an additional US$5 per barrel to be added to the risk premium, potentially pushing oil prices into the range of US$90 to US$95 per barrel.
“Therefore, retail customers will also feel the increase in the price of more expensive oil regardless of whether it is RON 95 or RON 97,“ he said.
Middle East Tensions Crude Oil Prices Net-Exporting Countries Oil And Gas Sector
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