No room for complacency in energy markets

No room for complacency in energy markets. With supply and demand outlooks finely balanced in oil markets disruptive geopolitical events threaten to push prices higher. A report by the International Energy Agency said that increases in global demand were likely to be offset by new production coming out of Canada and the US. However, this balance could easily be disrupted with supply coming offline from the Middle East and Nth Africa as a result of political unrest. Supply risks in the Middle East and North Africa, not least in Iraq and Libya, remain extraordinarily high, the IEA's report says. Whether in crude or product markets, there is little room for complacency. A research note from Barclays says: Oil markets are finely balanced and the risk of a price spike is greater than at any point since the start of the financial crisis. Read the full article: (VIEW LINK)