| Driven by weak fundamentals, bleak Chinese data and Fed’s plan to slow its bond-purchase program by the end of the year, commodity markets suffered their biggest drop in a year and half – on June 20 – dubbed “Black Thursday” by Commerzbank. And oil was no different. US crude sank 3 percent on the day, with benchmark oil prices projected to decline further during the course of the coming week(s).
But then geopolitics came handy, reversing the trend. Fear premium began to swell. Already the ongoing conflicts in Syria and Libya were weighing heavily on market sentiments. The echo of change in Egypt contributed to further volatility...............................................Full Article: Source
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