If you want a clear picture of how the events of the last week have impacted
the markets, look no further than oil prices. Brent crude is back trading in the
region it was this time last week but the volatility in the interim has been
extreme.
After spiking more than 5% in the aftermath of the attack on the two US bases, Brent fell almost 10% and ended the day not far from those lows. While future flare ups are likely, the clear desire on both sides not to engage for now has come as a huge relief to the markets and with that, the premium in oil has disappeared. Let’s just hope cooler heads will remain.
After spiking more than 5% in the aftermath of the attack on the two US bases, Brent fell almost 10% and ended the day not far from those lows. While future flare ups are likely, the clear desire on both sides not to engage for now has come as a huge relief to the markets and with that, the premium in oil has disappeared. Let’s just hope cooler heads will remain.
Brent Daily Chart
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