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Oil prices to be within $65-75 per barrel range — Turkey’s Trade Minister

According to Omer Bolat, national catastrophes, political conflict or wars may affect the price of energy resources

MOSCOW, June 27. /TASS/. Global oil prices will fluctuate within the range of $65-75 a barrel, Turkey’s Trade Minister Omer Bolat said on the air with Rossiya-24 television.

"My forecast is that oil prices will vary within the limits of $65-75 per barrel. However, this is a short-term estimate only. National catastrophes, political conflict or wars may affect the price of energy resources. They may cause problems with supplies. So we will watch the coming developments," the minister said.

The Turkish minister participated in Moscow in the meeting of the intergovernmental Russian-Turk4ish commission for trade and economic cooperation.

"Persian Gulf countries provide for 25% of global energy needs via the Strait of Hormuz. Therefore, closing of the strait or any disruption related to it in the Persian Gulf area will have the most adverse implications for energy supplies and global prices," Bolat said, commenting on the theoretical possibility of closure of the Strait of Hormuz.

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