23.04.2014 - Geopolitical risks to support the oil price – despite demand growth drop
The boost the energy sector received up until early March is unlikely to be repeated as we move into the second quarter. Oil traders will be keeping an eye on several issues. China, the world’s biggest importer of oil, saw a dramatic reduction in February imports, after a record high in January. If this trend continues, demand growth could eventually have to be revised lower. Meanwhile, the hope of reaching a comprehensive agreement between Iran and the West over the former’s nuclear intentions may have suffered a setback, given the breakdown in relations between Russia and the US over Ukraine. Iran has been exporting more than allowed under Western sanctions for the past four months, and this increases the risk of a crackdown if Washington feels economic pressure is being relaxed too quickly...............................................Full Article: Source