OIL PRICES

 

Oil Prices Falter As Market Driven By Economic Concerns, Not Fundamentals

Oil prices faltered last week, driven by broad economic concerns rather than crude market fundamentals. Benchmark crude prices settled lower for the first time in five sessions on 30 July, over concerns that expected financial stimulus packages from the US and Europe may fail to rally their flagging economies. The fall came despite a Reuters report saying that OPEC output...