Sun, Apr 26, 2015
A A A
Welcome preal121
RSS

Commodities Briefing - Categorized | Oil, Price Watch, Trends more

Stable oil prices will not be staying that way much longer

Posted on 15 April 2013

For a commodity usually described as “volatile”, oil prices have been eerily stable over the past three years - averaging US$111.26 in 2011, $111.57 in 2012, and $111.89 so far in 2013. Despite the revolution in Libya, stringent sanctions on Iran and Japan’s nuclear shutdown, the oil market has remained remarkably steady.
Yet on Friday, Brent oil prices fell sharply to under $102 per barrel, their lowest level for nine months. This came in response to downgrades of global oil demand by the producers’ and consumers’ representatives: Opec, the Energy Information Administration in the United States and the International Energy Agency. They were particularly concerned about weak demand in Europe and Japan, as the economic crisis drags on………………………………………..Full Article: Source


 Article link

This post was written by:

VRS - who has written 40203 posts on Opalesque Commodities Briefing.


Contact the author

Comments are closed.

banner
banner
April 2015
S M T W T F S
« Mar    
 1234
567891011
12131415161718
19202122232425
2627282930