| From Gulfnews.com: For a very long time, no analyst has seen the oil market as stable as it was in October. Prices, though breaking the psychological barrier of $80 (Dh293.8) per barrel ($/b), moved in a narrow range such that the highest price for the Opec basket of crudes was $81.51/b on October 6 and the lowest was $78.54/b on October 22. Therefore the average for the month is just below $80/b. This is a significant improvement over the $74.63/b average for September.
Yet the market remains concerned about the economy and the Opec Conference on October 14 declared that "whilst economic recovery is underway, there is still considerable concern about the magnitude and pace of this recovery" and that "market fundamentals remain weak, refinery utilisation rates are low and product inventories have risen considerably."..........................................Full Article: Source
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