OIL PRICES

摘要

West Texas Intermediate (WTI)fell back to around US$67 per barrel in mid-May, largely in response to the Euro area debt crisis. Most Euro zone countries are planning sweeping public sector cuts in an effort to reduce incontrollably large deficit and debt loads; consequently, the fear among commodity traders was that European demand for oil would fall back. Since then, oil prices have started trending upward again although concerns over European fiscal fundamentals continue to dominate.