With Iran under control, oil price will come back: Barratt

Jonathan Barratt, CEO, BarrattsBulletin.com tells CNBC-TV18 his outlook for crude and base metals.

Below is an edited transcript. Watch the accompanying video for more. Q: What is your outlook on crude? Just a rumour of a pipeline burst in Saudi Arabia caused crude to spike up so much. What crude would move to if something really materialises in terms of geopolitical tensions?
A: The market is certainly very jittery there is no doubt about it. What we do feel is that the current price action has really been all about the Middle East or the Iranian concern. To me, we have actually factored too much in. What I actually feel is if we lose a lot of this supply and remember Iran is the fourth largest producer and exporter, then we are going to have massive concerns.
But at the moment you can see that the markets sort of flowed too much towards the spike which we have seen and at the moment the other fundamentals such as demand haven