EconomyMcNally: Oil Market Underestimates Geopolitical Risk

Oil extended its decline as traders weighed President Donald Trump’s claim of an “energy ceasefire” between Russia and Ukraine. Hostilities also escalated in the Middle East, including Houthi strikes on Riyadh airport in Saudi Arabia. Bob McNally, Rapidan Energy Group’s president and founder and a former White House energy adviser, discussed how these geopolitical situations affect oil markets with Bloomberg’s Abeer Abu Omar in Riyadh.