1. English Edition

France, Greece Worries Stop Oil From Rising -DnB

France, Greece Worries Stop Oil From Rising -DnB
dj
Δευ, 7 Μαΐου 2012 - 18:08
French and Greek election results, which fueled worries over the euro zone's ability to solve its sovereign debt problems, have prevented crude prices from rising Monday after sharp falls at the end of last week, says Torbjorn Kjus, oil market analyst at DnB NOR. "Normally we would see more strength in oil futures [after such falls]," he says.
French and Greek election results, which fueled worries over the euro zone's ability to solve its sovereign debt problems, have prevented crude prices from rising Monday after sharp falls at the end of last week, says Torbjorn Kjus, oil market analyst at DnB NOR. "Normally we would see more strength in oil futures [after such falls]," he says. 
Going forward, Brent futures could fall to $100 a barrel, especially if tensions over Iran 's nuclear program ease, leading to the EU calling off sanctions against the Islamic Republic, he says. "There's more weakness to come in the oil market," Kjus adds. ICE June Brent is down 53c at $112.65/bbl. Nymex June crude is down 62c at $97.87/bbl.

Διαβάστε ακόμα