As geopolitical uncertainty surrounding Ukraine sent commodity prices on a roller coaster ride this week, it could be time for U.S. shale oil to take center stage, some analysts told CNBC.
Prices of European and U.S. crude rose over $2 a barrel on Monday, after a bloodless invasion of Ukrainian peninsula Crimea by Russian troops sparked worries over disruptions to global energy markets. Meanwhile, U.K. gas for April delivery climbed 10 percent on Monday, the largest one-day gain since September 2011. On Tuesday, oil prices eased after President Vladimir Putin ordered troops that took part in military exercises in central and western Russia to return to base. But investors remained nervous.
Gaurav Sodhi, resources analyst at Intelligent Investor, told CNBC Asia's Squawk Box, that volatility around Ukraine would cast a more favorable light on the U.S.'s growing energy independence.
(Read more: Russian markets hit as Putin tightens grip on Crimea)
"This will be a test of the new American shale prowess, a chance to prove supply can respond to higher prices. If they are the new Saudis, now is the time to prove it," he said.
Meanwhile, David Lennox, resources analyst at Fat Prophets, told CNBC anxiety surrounding Ukraine's predicament had underscored geopolitical stability in the U.S.
"Their investment in shale oil production is head and shoulders above the rest of the world, this situation gives the U.S. the opportunity to show their potential," he added.