Algerian Hostage Crisis Adds to Oil's Reflationary Play -- City Index UK
Read Full Article at cityindex.co.uk: Algerian Hostage Crisis Adds to Oil's Reflationary Play
One implication to Algeria’s firm response would be that further terrorists attacks targeting Algerian energy interests are unlikely, since Algeria would neither consider negotiations, much less, fulfill kidnapper’s demands. The situation is highly unlikely to turn into that of Nigeria where rebels' attacks at refineries and pipelines are a frequent occurrence.
Part of the reason Algeria has so far resisted the spread of the Arab Spring, seen in Tunisia, Egypt, Libya and Syria is that the third largest gas supplier to Europe has had its own civil war in the 1990s. The Algerian governments' stern reaction is a vocal message aimed at preventing the current events of becoming a tipping point to renewed violence in the Sahel region spreading North near the Capital.
As the risk premium to energy prices is boosted by a new source and global central banks pile on their own reflationary policies, targeting bond yields (ECB), unemployment (Fed) and CPI (BoJ), oil prices are likely to remain supported. Read more
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2013년 4월 29일 10:32
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2013년 2월 15일 10:38