| Oil prices may remain volatile for some time to come but will ultimately average above $60 for Brent. This is despite the fact that they presently remain below $60, which is due to the dollar’s unrelenting rally that is putting pressure on stocks and commodities, regional analysts say.
The dollar index posted a back-to-back weekly gain of more than two percent, setting up its strongest two-week performance in more than six years. John Sfakianakis, Middle East director at Ashmore Group, told Arab News: “A stronger dollar is good when it comes to purchasing power and cost of imports, especially as we are in a global deflationary environment. The dollar always plays a role when it comes to commodities and oil.”..............................................Full Article: Source
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