UBS sees short-term volatility in oil market after new US sanctions, oversupply to limit rally

Core Viewpoint - UBS indicates that new U.S. and EU sanctions on Russian energy firms may cause short-term volatility in crude prices, but a sustained price rally is unlikely due to global oil market oversupply [1] Group 1 - The sanctions are expected to introduce short-term volatility to crude prices [1] - UBS believes that the oversupply in the global oil market will prevent a sustained rally in crude prices [1]