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SZO - Weekly Energy Recap: New Saudi Energy Minister Brings Some Comfort To The Market
DB Crude Oil Short ETN
Although oil prices weakened compared to a week earlier, Brent crude remained above the $60 barrier. WTI softened to $54.85 per barrel. Oil prices have fallen by about $10 per barrel from a peak in early April, but remain broadly stable. The appointment of the new Saudi energy minister brought comfort to the market as he emphasized a consistent Saudi energy policy.
Beyond the ups and downs of the oil price, it was an eventful week as global industry leaders gathered at the the 24th World Energy Congress, which itself preceded the 16th Joint Ministerial