Press Release Summary: Private Equity Placement: Crude oil market simply could not ignore Russian relations any longer
Press Release Body: As crude surged by more than $6 a barrel, a source close to Private Equity Placement was reportedly surprised that the market had turned a blind eye to events unfolding in the Balkans. In what some have compared to the Cuban missile crisis of 1962, the US signed a missile-shield agreement with Poland and bolstered concern that Russia may disrupt the flow of oil. “A weaker dollar didn’t help matters”, said the Private Equity Placement.
Russia, the world\'s second- biggest oil producer said that the pact had a tangible anti-Russian sentiment. The markets saw a huge flow of investors seeking the safety of commodities as the dollar weakened after what many analysts a rebound that was too fast to last.
Private Equity Placement are thought to believe that the renewed pressure on the world’s reserve currency will magnify the appeal of hard assets going forward. Crude oil for October delivery rose $5.72, or 5 percent, to $121.28 a barrel at 12:01 p.m. on the NYMEX.
Private Equity Placement source suggested that concerns are mounting that Russia may dump its significant holding of US Treasury debt that several OPEC countries have called “worthless pieces of paper”.
Geopolitical tensions continue to thwart efforts to stabilize the price of oil and show no immediate sign of subsiding.
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