Geopolitics: Oil Will have to Be $12 Upper

Geopolitics: Oil Will have to Be $12 Upper

Clay Seigle, global oil service director at Rapidan Energy Group, joins BNN Bloomberg to talk about the main geopolitical risks for the oil market. Seigle says there is a 30 per cent chance Iran becomes directly involved in the Middle East war, which in turn could result in a $40 spike in crude prices. However he says right now we’re seeing “virtually zero” geopolitical risk premium built into the price of oil.