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Commodities Briefing - Categorized | Oil, Price Watch more

Have oil prices stabilized? Don’t be too sure

Posted on 08 April 2013

It’s official now. Everyone agrees. Rising oil prices are so last decade. A lot has happened in the world over the last three years. The Middle East has turned upside down. The eurozone appeared to be on the ropes then stumbled back into the ring. Barack Obama came back from the political dead. The Chinese economy lost altitude then took tentative flight again.
None of it has affected the price of oil much. The popular United States Oil Fund ETF, which tracks the price of West Texas Intermediate crude, is virtually flat compared to April 2010. Brent crude, which trades in London and serves as a benchmark for the rest of the world, has also remained in a historically tight range. ……………………………………….Full Article: Source


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VRS - who has written 36638 posts on Opalesque Commodities Briefing.


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