'Both Sides Are Lying': Fereidun Fesharaki on Oil Flows

Fereidun Fesharaki, Chairman Emeritus of FGE NexantECA, stated on Bloomberg's "Insight With Haslinda Amin" that "both sides are lying" regarding oil flows amidst the ongoing US-Iran conflict. He explained that current oil prices are primarily influenced by market sentiment rather than actual physical supply and demand shifts. Fesharaki indicated that while official statements from both the US and Iran may not reflect the complete picture, the market's perception and speculative trading are the dominant factors affecting crude oil prices. This perspective suggests that geopolitical rhetoric is creating price volatility independent of immediate changes in oil production or consumption.