3 reasons not to worry about energy costs…for now

With tensions over Russia's move into Crimea easing and the coldest winter in decades finally in the rear-view mirror, action around oil prices should be rather subdued for a while, a leading analyst told CNBC on Tuesday.

"There is a symbiotic relationship between Russia and Europe. Russia needs the revenues for the oil and Europe needs the crude and the product," Matt Smith, commodities analyst at Schneider Electric, said in a "Squawk Box" interview.

In this video, Smith gives three reasons that, for now, energy costs should not be too worrisome.

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