Geopolitical Tensions, Not Fundamentals, Drive Crude Prices: Expert

• Energy expert Narendra Taneja states crude oil prices are supported by Iran-related geopolitical tensions, not demand-supply fundamentals.
• He believes oil prices above $58 per barrel reflect a geopolitical premium due to uncertainty surrounding Iran.
• Taneja suggests recent developments are strategic positioning to pressure Iran, potentially opening its oil and gas sector.
• Markets expect continued volatility but no major supply shock, as a large-scale disruption of the Strait of Hormuz is unlikely.
• Crude prices will remain sensitive to geopolitical headlines over economic data until clarity emerges on Iran developments.