Will The Oil Price Recovery Last? ...Middle East

OILPRICE - Economy
Will The Oil Price Recovery Last?
source : OILPRICE ( Middle East ) () 38
  Following a 10% slump in two weeks, oil prices jumped by 5% on Monday as concerns about the banking sector eased and 400,000 bpd of crude exports from Kurdistan were shut in.   The move lower in oil prices this month was driven by broader market jitters amid a liquidity scare in the banking sector, which saw two U.S. banks fold and Swiss giant Credit Suisse taken over by domestic rival UBS. Speculative liquidation of long positions in oil also contributed to the plunge in oil futures prices.    Going forward, the…

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