| Strong oil and weak dollar influence shares, EM, junk debt and FX. We are all oil traders at the moment. The resilience of crude prices in the wake of a failed production freeze deal in Doha firmly illustrates the importance of black gold for sentiment across the broader financial system at the moment.
Talk of a freeze in recent weeks propelled the robust recovery in oil prices. However, the lack of an agreement and the crackling tension between Iran and Saudi Arabia is being downplayed by energy traders. They are looking ahead to the prospect of supply and demand becoming balanced during the second half of the year, thus supporting crude prices...............................................Full Article: Source
|