Crude oil prices are trying to balance the risks to oil supply versus the risks to demand. The risk to the demand side of the equation is coming out of Turkey. Turkish President Recep Tayyip Erdogan is vowing not to be brought to its knees even as it is him that has driven the Turkish economy into freefall. The Turkish central bank says it will provide all the liquidity that the Turkish banks need. That brought the crashing Lira and stock market back a bit, but it is unclear whether that will provide lasting support.
From:: Resource Investor