Middle East
Tensions within Middle East will continue to threaten oil markets as far as anti-American rebellions are still in force and confrontation between Israel and Iran is strengthening.
Oil prices dropped 2.4% from Monday last week to $96.62 per barrel on speculations that the USA may untap its strategic oil reserve.
However, last week the oil got over $100 per barrel as the result of violent demonstration when the US ambassador was murdered in Livia and three other American citizens were killed in Benghazi. The US embassies in Cairo and Yemen were besieged amid demonstrations against Muslim videos on YouTube. On Monday, there were fierce skirmishes in Indonesia and Afghanistan.
Spain
The question whether Spain should officially ask for a bailout is still unresolved even after non-official 2-day meeting of financial ministers of the EU on Cyprus which took place last week.
Spanish prime-minister Mariano Rajoy has not decided yet if the country should accept financial aid and follow austerity measures.
At the same time, the ECB is ready to purchase bonds on the secondary market, but it will do so only in case the country officially asked for help.