Oil market likely to experience more volatility going forward: Giovanni Staunovo

“Obviously demand is still increasing and so imports are still expected to stay elevated and with higher prices will only increase the burden from fiscal and trade balance perspective. The only way to mitigate it a little bit, is to look at taxes but that comes with negative repercussions on the fiscal budget side,” says Giovanni Staunovo, CIO, Commodity Analyst, UBS.

This invasion of Ukraine by Russia is definitely going to have far-reaching implications for the energy market, given that Moscow has the role as the world’s second largest producer of natural gas and one of the world’s largest oil producing nations. What does it mean to see oil at $100 a barrel?