Phillip Nova says the oil market is pricing in risk premiums due to unclear diplomatic solutions.

Phillip Nova's Priyanka Sachdeva stated in a report that, due to the lack of a clear diplomatic solution, the oil market is increasingly pricing in the corresponding risk premium. She said: "The market can tolerate uncertainty for a period of time, but as a breakthrough remains elusive, the market is gradually losing patience." She added that the market is no longer trading solely on the next piece of news, but is increasingly pricing in the prospect that global supply chains will face prolonged vulnerability.