25 Nov 2015
Oil prices recovering slowly amid easing signs of Russia-Turkey standoff – Investec
FXStreet (Delhi) – Research Team at Investec, notes that the oil prices continue to slowly recover this week, after recent lows below USD 40 a barrel proved to be short lived.
Key Quotes
“Oil was first buoyed by reiterated Saudi comments on Monday, regarding their desire to work with OPEC on a stable oil price, then yesterday received a further boost amid raised geo-political tensions after Turkey downed a Russian jet on the Syrian border.”
“Fear not, President Obama and the NATO military alliance have already called for a de-escalation of the emerging standoff between Turkey and Russia, as their war of words over the incident threatens to hurt the united front against Daesh (the organisation formerly known as ISIS). Unsurprisingly we also saw safe haven gold, continue moves higher and overnight Asian stocks were lower carrying on moves after the incident.”
Key Quotes
“Oil was first buoyed by reiterated Saudi comments on Monday, regarding their desire to work with OPEC on a stable oil price, then yesterday received a further boost amid raised geo-political tensions after Turkey downed a Russian jet on the Syrian border.”
“Fear not, President Obama and the NATO military alliance have already called for a de-escalation of the emerging standoff between Turkey and Russia, as their war of words over the incident threatens to hurt the united front against Daesh (the organisation formerly known as ISIS). Unsurprisingly we also saw safe haven gold, continue moves higher and overnight Asian stocks were lower carrying on moves after the incident.”