Oil price surge: Ukraine crisis could be ‘seismic event’ for market, warns analyst

Oil price surge: Ukraine crisis could be ‘seismic event’ for market, warns analyst

Oil price surge: Ukraine crisis could be ‘seismic event’ for market, warns analyst OIL PRICES increased on Friday for the fourth straight week as tensions between Ukraine and Russia threaten to cut off the UK and Europe from Russian supplies. Scotland's position on oilfield project 'disappointing' says Mutch Analysts have offered dire warnings about potential supply disruptions as political tensions between Russia and Ukraine intensify. Phil Flynn, senior market analyst at The Price Futures Group said the potential for disruption was high because of Russia’s key role as an oil and energy producer particularly for the European market. He said: “From an energy standpoint, this could be a seismic event.” Mr Flynn also argued that in a rush to get off fossil fuels European countries had “become more dependent on …
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