| Crude oil prices – stuck in a relatively tight range in the first half of the year – have bounced back sharply to the triple-digit mark in the second half. The price surge was backed by seasonality and some other key factors.
First, higher oil demand is a seasonal summer trend not only in developed nations but also in emerging economies. Second, the political unrest in the Middle East could boost uncertainty and increase the likelihood of a supply disruption. Third, encouraging labor and retail sales data, signaling a strong U.S. economy, have added to the bullishness..............................................Full Article: Source
|