What's Moving the Oil Markets?

What's Moving the Oil Markets?

•IPE Brent futures in London were rangebound Monday morning in thin trading as the market was waiting for "headline trading" to push the market in either direction. "It's very quiet this morning and the market is waiting for a headline to move it. Fundamentally, for the time being, prices should be coming off," a London-based broker said.

•It seems that the threat by Iran's oil minister, over the weekend, to use oil as a weapon if the country's "interests are attacked", have had little affect on crude prices."

•- Two Filipino oil workers captured in restive southern Nigeria last week were released on Sunday, a local government spokesman in the area told AFP. Unidentified armed men captured the two oil workers Tuesday while they were working on a platform in Aker, near Port Harcourt, the capital of oil-rich Rivers State. They are employed by Beaufort International under a contract with the Norwegian oil services company Petroleum Geo-Services (PGS).

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