"2016 was a record year for profits," said Brian Prentice, partner at aviation services firm Cavok. Much of the profits were driven by very low oil prices that we experienced the entire year," said Prentice. "Beyond supply and demand fundamentals, traders were closely eyeing escalating tensions in the Middle East. Saudi Arabia accuses arch-foe Iran of supplying missiles and other weapons to Houthi militia in Yemen. Iran denies the charges and blames the war in Yemen on Riyadh.

Source: The Star November 08, 2017 04:41 UTC