Oil Rises on Speculation Central Banks to Boost Stimulus – Bloomberg 06-15-12

Salient to Investors:

Phil Flynn of Price Futures Group says the markets are betting that the anti-austerity forces in Greece will lose, which would boost oil prices, bus a win would see a deflationary downdraft impacting all markets. Sees increasing likelihood that the central banks will increase stimulus – the Fed has a lot of cover for stimulus.

Ali al-Naimi said Saudi Arabia’s policy has all along been to manage stability of the oil market, keeping it in balance by supplying oil.

Read the full article at http://www.bloomberg.com/news/2012-06-15/oil-fluctuates-on-slower-n-y-industrial-growth.html