19 April 2024
Oil prices adrift in choppy waters
Publication date: 23 October 2014
Gas Strategies Group
10 Saint Bride Street
London UK
EC4A 4AD
ISSN: 0964-8496
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The Greek myth of Scylla and Charybdis tells of two sea monsters that lay on opposite sides of the Strait of Messina, just close enough to each other that they posed an inescapable threat to passing sailors. Crude oil appears to be in similar straits – on the one side a bearish macroeconomic picture stunts demand growth, while on the other rising global output continues to add to a supply overhang.