Institution: The Arab-Gulf oil market has lost its anchor and is now rudderless

JTD Energy Services Pte.'s Chief Strategist in the East Eight Zone, John Driscoll, stated that this move is tantamount to admitting that, in such unprecedented circumstances, "the Arab-Gulf oil market has lost its anchor and is rudderless." He said, "Platts has previously faced methodological challenges, such as whenever sanctions news emerged, but now the situation can be said to be even more severe."