Oil Prices And Sanctions Strategy: The Apparent Contradiction — John Kemp

Summary:
If the U.S. government’s view is correct, spot prices and the backwardation should both fall as oil and gas continues to flow, easing some of the fear about a recessionary spike in prices.If traders are correct, the disruption of oil and gas supplies (actual or threatened), possibly as a result of a miscalculation about the escalation ladder, will worsen inflation and increase the risk of a recession.But given the contradiction between where prices are trading and the U.S. government’s strategy, someone must be wrong.Zero HedgeOil Prices And Sanctions Strategy: The Apparent Contradiction John Kemp, senior market analyst at Reuters

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