WTI dropped below zero: what does it mean?
Big news shake financial markets more and more often. This time oil is once again the news maker.
Analysts: how about $20 for Brent oil?
Oil market crashed after OPEC+ didn’t agree on production cuts. Brent slid as low as to $31.27 a barrel. WTI hit $27.34 a barrel. Both benchmarks haven’t really started to close this week’s bearish gap. What’s next? Let’s see what bank analysts have to say about this.
BNP Paribas
There will be more volatility in oil prices in the next two weeks as that is when the OPEC’s cuts agreement officially ends. The odds are that during this time oil will remain under pressure. What is happening between Saudi Arabia and Russia is a high-stakes poker game.
MUFG
Traders should be ready for prices staying below $30 a barrel in the second quarter of 2020. The commodity’s price has no support on the downside and may fall below $25 a barrel. Models now forecast quarter-end 2020 levels for Q1, Q2, Q3 and Q4 2020 at $28.6 a barrel, $32.3/b, $35.6/b and $46.1/b, respectively.
Bank of America
Brent oil may temporarily fall to $20 a barrel range over the coming weeks as there’s a big shift in Saudi's approach: the country has started giving discounts and will probably allow inventories to build.
Citigroup
There’s a unique combination of demand and supply shocks that could send prices into the $20s.
Similar
OIL: WTI is below $15
The price of WTI oil collapsed even more, it trades at $14.80; why?
OPEC: too little, too late
OPEC+ talked for more than eight hours on Thursday. Oil price plunged at the end. Why?
Latest news
Risk-on is back. Market news and trade ideas on July 9.
Riskier currencies and stocks are in favor of investors. Surprisingly, gold rallies too. Let’s have a closer look.
GOLD: the era of $1 800
Congratulations! Gold has just opened a new era... or, rather, reopened...
Canadian job data: an attractive release for trading
Canada will publish the employment change and the unemployment rate on July 10, at 15:30 MT time.
Deposit with your local payment systems
