13.09.2013 - EIA considers oil price rise temporary, prices to drop in 2014
Oil prices jumped significantly during the month of August following uncertainty in the Middle East. However, the fundamentals of the oil marker point towards a declining trend in the oil market throughout the remaining months of 2013 and through 2014. The Energy Information Administration (EIA) released its short-term outlook for the month of September 2013 and has indicated that the recent hike in crude oil prices was only temporary. Supply disruptions from Libya and conflicts in Syria were considered the main factors driving the price of oil upwards...............................................Full Article: Source
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