Oil prices would be higher for next few days: Vandana Hari

If the economic headwinds abate as a result of even an interim deal between the US and China and demand growth picks up again, then if still a substantial part of the Saudi production is out of the market, then prices could stay high for the next several months, says Vandana Hari, Founder, Vanda Insights. Excerpts from an interview with ETNOW.

Geopolitical risk is back. Will the drone attacks on Saudi oil plants lead to a temporary or a permanent uptick in crude price now?
This is a multi-dimensional issue. We will need to think about the immediate and short-term repercussions in terms of the global supply-demand balances and then longer term again as to what does this mean for the geopolitical tensions which have already been high in the Middle East and the geopolitical risk premium that may sustain in crude prices even after some of these shortfall has been offset.