Thursday, 24 March 2016

What $40 Oil Means: Floor and Ceiling Edition

The writer says $35 will eventually be the new floor while we, for a couple reasons think it will be lower.
More on that after the OPEC production freeze meeting.
WTI $38.55 down $1.24; Brent $39.39 down $1.08.
From RBN Energy:

Are We There Yet? - What $40/Bbl Means To Crude Oil Markets

In the five weeks since February 11, the price of WTI crude oil on the CME/NYMEX spiked 50%, up from $26/bbl

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