Oil Market ‘Complacent’ About Iran-Sanctions Risks, Rapidan Says
- Rapidan’s McNally also sees ‘no ending of sanctions’ on Russia
- Oil prices climbed this quarter, partly on geopolitical risks
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The oil market is “still complacent” about the geopolitical risks posed by the prospect of heightened sanctions against Iran and Russia, said Bob McNally, president of Rapidan Energy Group.
“The next administration’s priority will be to leverage Iran’s vulnerability to oil sanctions and get to a deal” on nuclear activities, McNally said in a Bloomberg Television interview referring to the incoming Trump administration.