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Commodities Briefing - Categorized | Market Moves, Oil more

Why oil will stay strong for some time to come

Posted on 08 July 2013

Egypt is the big topic on oil trader’s minds this week but it really shouldn’t be. Although it’s been tapped as the reason WTI oil has drifted above $100 a barrel, it’s only the last of several financial and geopolitical reasons that have kept oil strong for the past several months despite the shaky performance of just about every other asset class.
And now that the military has asserted itself in Egypt and taken Morsi down from power, there might be a tendency to think that the situation will cool and so will the price of oil, but I don’t believe that. The commentary on Egypt has been celebratory, but I doubt very much that the Muslim Brotherhood will take their stripping from power easily………………………………………..Full Article: Source


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VRS - who has written 37037 posts on Opalesque Commodities Briefing.


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