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Wednesday, 26 July 2017

Oil rallies 3 percent as U.S. shale shows signs of slowdown

Oil rallies 3 percent as U.S. shale shows signs of slowdown:

"Qatar could adopt a monetary policy more independent of the United States if that proves necessary to combat economic sanctions by its Gulf Arab neighbors, a Qatari central banker said. Like most Gulf Arab oil exporters, Qatar pegs its currency to the U.S. dollar, putting pressure on its central bank to imitate interest rate moves by the U.S. Federal Reserve. But last month's decision by Saudi Arabia, the United Arab Emirates, Bahrain and Egypt to cut diplomatic and transport ties with Qatar has changed the economic environment for the country."



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