According to Galt And Taggart, oil prices rose 6.1% monthly in January 2024.
No significant interruption of oil supply has been observed in the past months, and no such thing is expected in the near future.
At this stage, oil shipments in the Red Sea are reduced by 20% and the existing problems are solved more or less easily. Moreover, according to J.P. Morgan, taking the long route and go around the African continent increases the price of oil by only $2 per barrel on average, as Arab states largely use pipelines.
By Mariam Mtivlishvili
