As it stands, US oil producers suffer from higher costs of oil extraction but enjoy geopolitical stability, while Middle Eastern producers have some of the lowest production costs but suffer a lack thereof
Markets are at risk however of reading too much into Juncker's comment, and it remains to be seen whether the Pound can push on from current levels.
While we have already seen in the past few days how sensitive oil prices can behave to geopolitical developments, if an escalation does flare up in the region, volatility can spread into other asset classes
Driven by intense bouts of safe haven buying, the precious metal sped ahead, rising by 5 percent in August
Negative-yielding bonds, contracting PMIs, overpriced shares, and a possible recession on the horizon leave plenty holding their breath to see if the ECB lives up to easing expectations
Prolonged uncertainties surrounding Brexit would only ensure that Sterling remains susceptible to the UK's political risk
In the event of a no deal Brexit, European Union will not face any trade disruption with non-EU countries as all the deals have been concluded by the negotiation team of the larger continent itself.
With many uncertainties surrounding the global economy expect volatility to remain elevated in September
Demand-side concerns in the form of rising US inventories, persistent US-China trade disputes and worrying signs of decelerating world growth have not been kind to oil prices