Oil market chartbook

- "Crude oil prices have dipped on growth concerns over the last couple of days, tracking equity markets lower. After a week-long rally above USD 80 per barrel (bbl) NYMEX WTI today dipped back below this level. While supplies are ample, we continue to expect macroeconomic sentiment to drive prices and for a continued close correlation between crude oil and equity markets. Weak macroeconomic sentiment was reinforced by a bearish set of weekly oil data from the US Energy Information Administration (EIA)."

StanChart Energy Weekly 20100811

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