Middle East Tensions Will Fuel Energy Price Volatility

A war of words is being waged among allies over energy markets. Andriy Kobolyev, the head of the Ukrainian state-owned oil company Naftogaz, warned that Russian attacks on Ukrainian energy infrastructure would lead to a rise in global energy prices. This comes in response to calls from the Biden administration for Ukraine to stop hitting Russian refineries because they believe it is one of the drivers behind the recent surge in the oil price.

 

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