Mon, Sep 22, 2014
A A A
Welcome kbr175@gmail.com
RSS

Commodities Briefing - Categorized | Market Moves, Oil more

Crude oil anchored to $100

Posted on 25 August 2014

In a little over two months, the price of crude oil (Brent) has slipped from $115 a barrel to near $100 a barrel, a 14-month low. This is thanks, in large part, to the perceived change in geopolitical conditions which had pushed up prices in the first place. In mid-June, the rapid advance of the Islamic State of Iraq and Syria (ISIS) had raised the spectre of supply shocks from Iraq, the second largest oil producer among the OPEC nations. This resulted in the price of Brent shooting up from $108 a barrel to $115 a barrel in quick time.
But then, with the realisation that the major oil producing fields and ports in the southern part of Iraq were not at imminent risk of being overrun by the ISIS, prices started moderating………………………………………..Full Article: Source


 Article link

This post was written by:

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


Contact the author

Comments are closed.

banner
September 2014
S M T W T F S
« Aug    
 123456
78910111213
14151617181920
21222324252627
282930