Weekly Market Commentary - February 26, 2016
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Do we need to get used to that level of volatility? That summarises somewhat the feeling this week on global markets. Uncertainties around efforts to stabilize oil prices continued to move the market in both directions like a yo-yo. By the end of the week, oil prices wiped away steep losses on news that Venezuela’s oil minister would meet with fellow oil producers next month. This followed Tuesday’s meeting between President Muhammadu Buhari and the ruler of Saudi Arabia, King Salman Bin Abdulaziz Al Saud, during which they both committed to work towards a stable oil market and a “rebound of oil prices”.