Gulf Tensions Cloud Oil Markets
Oil
markets reacted Monday to a naval escalation near Dubai, highlighting
on-going tensions in the Persian Gulf region. Oil prices Friday surged
higher following economic statements from China, which has experienced
economic stagnation but not the hard fall predicted by some market
analysts. The opening of an oil pipeline in the United Arab Emirates
during the weekend may have taken some steam out of this week's crude
oil prices, but military tensions in the Persian Gulf region trumped any
significant physical market conditions. Brent crude…Read more...
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