Geopolitical Uncertainties Set to Support Oil Prices

The Israel-Hezbollah ceasefire takes out just one strand of the geopolitical premium in oil prices, with a lot of uncertainties remaining for 2025, including the Trump Administration’s sanctions against Iran and the Russia-Ukraine war, according to David Fyfe, chief economist at Argus. “It’s a complex picture, but you’ve essentially got several strands of geopolitical complications,” Fyfe told CNBC on Friday. The geopolitical complications are underpinning crude on the one hand, but they also bring heightened concerns...