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Seasonal demand could push up oil prices: IEA

Posted on 15 November 2013

The International Energy Agency warned Thursday that a seasonal upswing in demand could put upwards pressure on oil prices in the near-term. “If seasonal cycles in crude and product demand are any guide, the recent easing of prices may be relatively short‐lived,” the agency said in its monthly report on the oil market.
Since the beginning of the month, the price of December Brent crude futures on London’s ICE Futures exchange has fallen just over 1%. On the New York Mercantile Exchange, light, sweet crude futures for December delivery has fallen nearly 3%………………………………………..Full Article: Source


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