Oil Demand To Remain Muted: David Lennox
  • Saba Ashraf
  • Aug 29 2013

August 29: David Lennox, Resources Analyst at Fat Prophets says, “If Syria concerns fade, oil may ease slightly to $105-115/bbl,” but adds that demand will likely remain muted despite the US’ seasonal demand slump coming to a close. Referring to gold gains, he says, “Faced with a currency crisis, Indian investors are still buying gold as it is dollar-denominated. Such buying will continue unless the government stabilises the economy.”