No rally to $70 a barrel for oil this year

© Ulrich Mueller

One theme of today’s news is rising cost levels, which have begun to hit the margins of forwarders and land transport providers. Partly this is to do with the price of oil, which has been on the rise in recent weeks, amid fears of sanction being reapplied to Iran, as well as tensions in Iraqi Kurdistan. gCaptain has helpfully run this Q&A with oil analyst Michael Poulsen at Global Risk Management. The longer-term trend is that global demand is that prices are very gradually rebounding as global demand begins to catch-up with the glut of supply caused by the explosion of shale production