Industry Metrics: Supply disruptions, geopolitical tensions add volatility to prices
By STEPHANY ROMANOW
Cold weather, supply disruptions and geopolitical tensions continue to add more volatility to oil prices, supporting prices above $100/bbl. The events occurring in Ukraine, along with other political strains in North Africa and the Middle East, continue to infuse more tension in energy markets. Stress in Europe maintained the North Sea Brent crude oil spot price in February at approximately $110/bbl. The US EIA expects the Brent crude oil price to weaken as non-OPEC supply growth exceeds growth in world consumption, thus calming shortage fears.