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Commodities Briefing - Categorized | Market Moves, Oil more

Global oil market seen lackluster as uncertainty lingers

Posted on 17 October 2012

On fundamentals, while the oil market continues to be fairly balanced, it points to market weakness in the months ahead, the National Commercial Bank said Monday in its October “Saudi Economic Review”.
It noted that the supply side continues to face shortfalls with the North Sea, in particular, seeing several cargoes delayed in October, adding that though the trade-weighted dollar had intensified its losses since last month, losing 2.17 percent YTD, “we expect to see a rangebound movement in the coming weeks.”……………………………………….Full Article: Source


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