Brent Crude recovers earlier sell off, Crimea the main driver
The Week In Hindsight, 14 March 2014
Brent crude declined this week after it emerged that output from OPEC countries, mainly Iraq, had increased by 500,000 barrels per day during the last month. After factoring in a reduction of 150,000 Libyan barrels per day, the net gain in supply for the Brent market became 350,000. This pushed prices briefly back to the $106.50 level before the benchmark made a raid recovery ahead of the weekend close.
This was as tensions remain high over the vote for Crimea due to take place on Sunday. Should the Ukraine/Crimean situation escalate to the level where the west imposes economic sanctions upon Russia, then supply concerns for both Brent and UK Nat Gas could become validated by considerably higher prices. WTI also fell over the week due to higher than expected stockpiles.
Brent Crude

Disclaimer
The information provided by Stockatonia, via both the telephone as well as the Stockatonia websites, is prepared as general information and general information only. As a result, the information in question does not constitute a recommendation to either buy and sell or not to buy and sell, any items or products treated as securities or financial instruments under UK laws and regulations.
To the extent that it is necessary, you agree not to act directly upon any information made available via telephone contact with Stockatonia and its representatives, as well as online contact with Stockatonia and its representatives, without first consulting your own financial adviser or investment adviser.
To the extent that it is permitted under the laws of the United Kingdom, Stockatonia and its representatives can accept no liability whatsoever in relation to losses incurred by clients, prospective clients and members of the public where these losses have arisen out of action, or inaction, which has taken place as a result of any form of contact with Stockatonia or its representatives.
This may be contact carried out by internet-driven media, letters and materials which are sent by post as well as information conveyed by Stockatonia and its representatives via the telephone.
Share This Story, Choose Your Platform!
Leave A Comment