Dana Malcolm
Staff Writer
#EU, January 12th, 2024 – Amidst war in the middle east The European Central Bank is warning that the effect ofGeopolitical risks on Oil Prices isn’t clear cut, increases in oil prices won’t last forever.
“Oil price pressures arising from adverse geopolitical shocks are generally short-lived, with elasticities becoming insignificant after one quarter for most countries—However, price effects can last longer depending on the duration of geopolitical tensions,” the bank said in a recent report.
The report came in late 2023 as the Israel-Hamas war raged on.
#Oil #Fuel
