“Growing geopolitical tensions around Ukraine are contributing to the rise in oil prices, and this “contribution” is measured at $ 15. However, with the normalization of the situation, the factors that added the “$ 15″ to the price of oil may disappear,”, Dmitry Marinichenko, head of natural resources and raw materials group at the rating agency Fitch, told TASS, APA-Economics reports.

According to him, if the deterioration of the situation accelerates and sanctions are imposed on Russian oil exports, then the price of a barrel of oil may exceed $ 100.

Marinichenko noted that Russia’s share in the world oil market is slightly more than 10%, and even if sanctions against Iran are lifted soon, it is impossible to replace Russia’s offer in the market.

Source: Azeri-Press News Agency