Oil Prices Hold Steady Amid Geopolitical Tensions; Iran Unrest a Key Concern

• Oil prices have stabilized after a nearly 6% drop, as immediate fears of US military action against Iran eased.
• Marko Papic of BCA Research warns of medium-term upside risks due to potential uncontrollable domestic unrest in Iran.
• Papic notes the oil market started the year with bearish positioning, underestimating geopolitical risks.
• MK Surana, former CMD of HPCL, believes oil prices will remain contained, likely below $65, despite some upside risk.
• Surana assures that Indian oil companies are well-positioned with good marketing and refining margins.

Why It Matters: While immediate oil price fears have eased, geopolitical risks, especially Iran's internal unrest, pose upside threats.