Posts Tagged ‘Syria’

Oil prices plummet amid high US Supplies and easing tensions in the Middle East

Wednesday, November 6th, 2013

Price of oil and gold forecastLast month saw the price of crude go up to a little over £70 per barrel amid concerns over the possibility of war breaking out in Syria. However, easing tensions in the region, thanks to significant diplomatic strides being made on Syria’s chemical weapons and Iran’s nuclear program, along with high US supplies have led to the price of crude plummeting to slightly over £58 per barrel.

The declining geopolitical risk in the Middle East has played a significant role in the fall of the price of crude oil. The likelihood of Iranian oil flowing back into the market has increased significantly as the country’s leaders declared they want to come to an agreement quickly with the major powers regarding their nuclear program.

Oil rally related to Middle East conflicts

Wednesday, May 8th, 2013

Oil rally in the Middle East conflictIn the latest trading news for commodities, crude oil has continued its rally as tensions continue to mount in the Middle East. With no end in sight in the conflict in Syria and as rumours of chemical weapons crimes continue to mount, trading analysts are beginning to speculate whether western powers may eventually be forced to intervene.

Although the geopolitical situation in the Middle East has caused oil to post gains of 6% in the last three trading sessions, any substantial rise has been dampened by the United States’ domestic market.

Federal Reserve and ECB stimulation on Crude oil trading

Saturday, August 4th, 2012

Crude oil barrel and US DollarCrude oil prices fell earlier this week, but picked up slightly at the end as stimulation from the Federal Reserve and the European Central Bank (ECB) increased confidence in the market. Furthermore, a fall in the value of the US dollar made the oil cheaper for countries using other currencies, which also contributed to the rise in price.