UBS Wealth management executive director, commodities and FX, Wayne Gordon has weighed in on the oil price upturn after Brent topped $60 for the first time in two years on Friday.
Mr Gordon said UBS had been bullish on prices for a long time, and that it had “turned sideways” on oil over the weekend.
He said geopolitical risk had played a part in the price upturn, but said production discipline from Opec and the slowing growth of shale were the biggest factors.