Analysts offer retrospective on recent oil price hike


Dateline 2020-01-12, Malay Mail:

Oil prices have declined from recent highs and are now trading at levels more reflective of the market’s fundamentals as fears over the US-Iran conflict subside.

The global benchmark Brent crude ended last week down 45 cents at US$64.92 (RM264) per barrel, while West Texas Intermediate crude oil fell 52 cents to settle at US$59.04.

Most analysts believe the easing of military tension between both countries provided relief not only to global equities but also oil-importing countries.

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