Weekly Fundamentals - Crude's Near-Term Outlook Hinges on Yemen Tensions and Iran-US Deal

29 March 2015 29 March 2015

ShaniceBecnel

Profit-taking on crude oil was seen on Friday following the rally due to unrest in Yemen. Yet, both benchmarks crude contracts recorded gains on weekly basis. The market was concerned that Saudi Arabia's launch of airstrike in Yemen would spread to other countries in the Middle East and cause disruption of oil shipment. Yemen is not a significant oil producer.