DAVOS, Switzerland: Oil prices could fall ifIranagrees to resume negotiations with the West over its nuclear programme, the chief executive of Swiss-based trading house Gunvor has said.
Torbjorn Tornqvist toldReutersgeopolitical tensions across theMiddle EastandNorth Africahad the potential to push oil markets higher but an easing of tension with the Islamic republic could have the opposite effect.
"Iran is key to this. If they agree to return to the table there could be some easing in prices," he said in an interview.
Tornqvist said Gunvor was looking to "expand geographically where there are opportunities, such as in United States, which today has many opportunities in oil and gas".