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Commodities Briefing - Categorized | Market Moves, Oil more

Oil markets shrug off Iranian attack on U.S. drone

Posted on 09 November 2012

An unarmed, unmanned U.S. drone flying in international airspace was fired on by Iran last week, Pentagon officials confirmed on Thursday, highlighting mounting tensions between the two countries. The move’s ultimate impact on oil prices will depend on several factors, analysts said.
“When geopolitical tensions increase prices tend to rebound due to the simple fact that there is close to no spare capacity,” said Olivier Jakob, founder and managing director of Swiss-based Petromatrix………………………………………..Full Article: Source


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