Friday, 25 October 2013 11:13

Some Consolidation after Several Days of Falls

 

consolidationhttp://sscf.ucsd.edu/ "Brent crude oil slipped further below $107 a barrel on Friday on concerns about higher supply and faltering demand, despite signs of faster economic growth in major consumer China .

 

Worries that the escalating war in Syria could disrupt Middle East oil supplies pushed Brent to a six-month high above $117 in August. But prices have dropped more than $10 a barrel since then and some analysts see further falls ahead." LONDON, Oct 25 (Reuters

"The prospect for 2014 is already of a big surplus, and, on top of that, there is the chance of a return to the market of more Iranian oil - barrels no one needs," Commerzbank's Fritsch said. (Additional reporting by Manash Goswami in Singapore; Editing by Susan Fenton

 

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