Friday 19 August 2011

Oil Price Drop Caused by Financial Markets, Qatar Minister Says - Bloomberg

Crude oil’s recent price declines were caused by financial markets, not supply and demand issues, Qatar’s oil minister, Mohammed Saleh al Sada, said today in Doha.

“In view of the fact that oil is a strategic commodity, we are watching what is happening in global markets,” he said.

Brent crude oil for October settlement fell $3.55, or 3.2 percent, to $106.99 a barrel today on the London-based ICE Futures Europe exchange.
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