The proposal reportedly has support from several NATO members, although there is still no unanimous agreement, meaning no operational decision has been finalized at this stage. The NATO leaders’ meeting in Ankara on July 7- 8 may become an important event particularly for the oil market, global shipping companies, and currencies of energy-importing economies.
The key question for investors will be whether the discussions lead to an actual naval escort mission or remain primarily a form of diplomatic pressure. Oil is currently trading near USD 110 per barrel and has not reacted significantly to these reports so far.
Source: xStation5
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