Oil price volatility still concerns the market

After a few months of stability in oil prices in the last quarter of 2009, hopes for a global economic recovery and, therefore, a more range-bound commodities market appeared on the horizon. However, at the start of this year, forecasts for oil still remain vastly different, ranging from $40 to $95 per barrel (bbl) and oil still ranks as one of the World Economic Forum’s (WEF) top 10 risks for 2010.

At a press briefing for WEF’s Global Risks 2010 report, representatives, which include major