Moscow: "There is no shortage of oil on the global market due to the escalating Iran-Israel conflict, but risks are already reflected in prices," said Russian Deputy Prime Minister Alexander Novak, APA-Economics reports citing Russian media.

According to Azeri-Press News Agency, Novak emphasized that the current oil supply remains stable despite the geopolitical tensions. "There is no shortage. The balance is maintained. Supplies continue. However, the market is pricing in certain risks, which, along with other factors, are being reflected in oil prices," he stated.

While discussing potential future price changes, Novak refrained from speculating on whether oil prices could escalate to $100 per barrel amidst the ongoing Middle East situation. He remarked, "I see that some people and experts are giving their estimates. At this point, anyone can say anything. Everything will depend on how the market responds to uncertainty and risk."