OIL PRICES

 

Oil Prices Rally, But IEA Sees High Prices And Weak Economy Undermining Demand

Benchmark oil prices rallied last week, due to a combination of improving US economic data and expectations of financial stimulus in the urozone, against a background of the deteriorating political situation in Syria and Iran’s standoff with the West over its nuclear program. Prices received a further boost on 7 August from reports of record low North Sea...