KSA- Process of dialogue must continue

In a week to last Friday, crude knocked off nearly 13 percent off the record peak registered the week earlier. And then it went down further, before registering resistance. And this knocking off had nothing to do with the fundamentals of the market. Easing of tensions with Iran, bigger than expected growth in US crude reserves and the growing concerns about the health of the US economy apparently dampened the market sentiments, underlining once again the complexity of the energy markets. Irrespective of what one says, the fact remains crude is not that crude an affair. Extra fundamentals continue to play a strong role. And this is what, despite calls to the contrary, Saudi Arabia has been insisting at the highest level. In an interview with an Italian newspaper, Custodian of the Two Holy Mosques King Abdullah last week... [read full story]