The Week In Hindsight, 27 December 2013
WTI Crude posted strong gains over the Christmas week, driven by lower stock piles and anticipation of increased demand due to the brighter growth outlook for 2014.
Brent Crude prices remained resilient into the closing hours of the week, aided by a similar positive outlook for global growth and further supported by concerns over potential supply constraints derived from multiple conflicts across production hot spots.
Gold saw strong offers below the $1200 mark this week which drove a brief correction in spot prices for the precious metal. The high of the week saw bids and offers quoted either side of $1218 before prices beat a retreat ahead of the weekend close.
BRENT CRUDE WITH WTI OVERLAY
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