Oil price: crude oil markets ride out the short-lived volatilty
Investors and traders alike could breathe a sigh of relief by the afternoon, yesterday, as the crude oil markets found its equilibrium again, having been through a short period of volatility, the previous day – finally. It’s either the news of the sanctions against Iran being lifted or the report from the IEA, the International Energy Agency that came as a bolt from the blue, which was responsible for the mayhem in the markets; some analysts believe it was the combination of both. By afternoon on Friday, however, the indices were back in the green and they continue to do so, extending well into the weekend. As the conflict in the Middle East died down in parallel to the news that came from Iran with regard to the lifting the sanctions against the country, the markets in general got the much-needed boost to spring back to action. Although there was no official communique about a new deal on the JCPOA, 2015 Iranian nuclear deal, the news from both camps that comes in dribs and