Goldman: Oil Markets Haven’t Fully Priced In Geopolitical Risk Premium

Oil prices rallied early on Tuesday, with the U.S. benchmark WTI Crude topping $100 a barrel for the first time since July 2014, as the market scrambles to assess the potential loss of supply from Russia after the SWIFT ban for Russian banks over Putin’s invasion of Ukraine. And the geopolitical premium over the war in Ukraine is even higher than current oil prices, according to Goldman Sachs. As of 9:26 a.m. ET on Tuesday, WTI Crude was rallying 5.10% at $100.86, and Brent Crude was trading above $103 per barrel, up 5.34% at $103.51, as…