IEA Chief Birol: Situation in Middle East is severe
The International Energy Agency (IEA) Chief Fatih Birol said on Monday that he is discussing with governments across globe, if necessary there will be more releases of oil stocks.
Key quotes
Situation in Middle East is severe.
This crisis is worse than the two oil crises of the 1970s combined.
Single biggest solution to the current problems is to reopen Strait of Hormuz.
Currently consulting with governments across globe, if necessary there will be more releases of oil stocks.
No specific crude price level to trigger more oil releases.
Shortage of fuel an increasing problem in Asia.
Australian government doing its best to increase fuel stock levels.
Market reaction
Crude oil prices edge higher follow this headline. At the time of writing, the West Texas Intermediate (WTI) is up 0.66% on the day at $97.85.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
PAYPAL, INC. : BARCLAYS CUTS TARGET PRICE TO $56 FROM $57
PAYPAL, INC. : BARCLAYS CUTS TARGET PRICE TO $56 FROM $57
IDACORP INC <IDA.N>: BARCLAYS CUTS TARGET PRICE TO $149 FROM $162
IDACORP INC : BARCLAYS CUTS TARGET PRICE TO $149 FROM $162
WEBULL CORP <BULL.O>: SCOTIABANK RAISES TO SECTOR OUTPERFORM FROM SECTOR PERFORM
WEBULL CORP : SCOTIABANK RAISES TO SECTOR OUTPERFORM FROM SECTOR PERFORM
Salzgitter Raised to Buy From Neutral by UBS
Salzgitter Raised to Buy From Neutral by UBS
Crypto prices
More
