UBS On-Air: Paul Donovan Daily Audio 'Crude and machismo'

Oil futures prices have been largely indifferent to the weekend’s events in the Gulf and Russia. Investors managed to contain their surprise at Iran and the US trading military strikes. US policy has been highly volatile in several areas over the past 18 months, preparing investors for instability in implementing the Versailles memorandum. Russian President Putin’s admission that Ukrainian drone strikes might force Russia to import more fuel is unlikely to change global demand dramatically (reserves are being used for now).