Russia Expects Oil Price Volatility to Subside

Oil prices have already factored in the geopolitical premium from the Middle East tensions and recent price volatility is set to ease in coming weeks, Russia’s Deputy Prime Minister Alexander Novak told Al Arabiya News in an interview published on Monday. Oil prices have seen increased volatility in recent weeks, as Israel continues to target Hezbollah in Lebanon and has also fired missiles into Yemen. Early on Monday in Asian trade, both benchmarks, Brent Crude and West Texas Intermediate, were up by more than 1% amid heightened…