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Ample oil supplies limit impact of MidEast flare-up on prices

From channelnewsasia.com

Plentiful supplies of some of the biggest crude grades are limiting the impact on benchmark oil futures prices of conflict in the Middle East, according to analysts and traders. Brent crude futures briefly topped $92 a barrel last week, the highest since October. While that's bad news for governments struggling to control inflation and high fuel costs, it could have been worse if physical supplies were tighter. To date, the conflict has not had a big impact on oil supplies from the Middle East, the world's top producing region. "In the absence of actual supply/production issues this market will struggle to ... (full story)

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  • Category: Fundamental Analysis