Analyst asks if herd mentality will drive oil prices off the cliff

9 Jan 2018   Prices

A perfect storm of geopolitical risk and severe weather in the United States helped drive oil prices close to $70 per barrel, but will it last, an analyst asks. A handful of analysts speaking to UPI during the long holiday weekend said geopolitical factors may be the drivers of a rally for crude oil prices. This year started with Iran in the grips of one of its worst bouts of political unrest since the Green Revolution in 2009 brought the first glimpses of a challenge to the cleric-backed regime. Joe McMonigle, a senior energy analyst at Hedgeye Risk Management, said there may be some “geopolitical lottery tickets” in 2018, especially if U.S. President Donald Trump decides […]

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