Brent At $150? FGE Flags Risk From Prolonged Supply Disruptions

Brent crude could rise to $120-$150 a barrel if Middle East supply disruptions persist, according to Iman Nasseri, senior vice president, Middle East & Asia at FGE. Speaking to NDTV Profit, Nasseri said physical crude barrels are already trading at $125-$130 a barrel, depending on the location. He said Brent futures could move towards physical prices if the Saudi East-West pipeline remains offline for more than two weeks. The pipeline has been shut as a precautionary measure amid attacks on pumping stations. Nasseri said the market is currently pricing in a two-to-three-week disruption, while storage at Yanbu could support loading for 15 to 25 days.