As tensions in West Asia continue to dominate global conversations, market participants are trying to assess whether the worst of the oil shock is over or if another spike in crude prices still lies ahead. According to market expert Arvind Sanger from Geosphere Capital, the probability of oil surging back to extreme levels has reduced significantly, although prices are unlikely to return to the comfort zone seen before the conflict.
Speaking to ET Now, Sanger said both the United States and Iran appear increasingly inclined toward a negotiated settlement, lowering the chances of a severe disruption in oil supply.
