The Telegraph: Oil could crash to $10 a barrel, warn investment bank bears
Petrol prices could fall back to levels last seen in 2009 as major banks say there is no bottom in sight for the world's lopsided market.
Oil prices have crashed to below $30-a-barrel amid warnings the rout could reach as low as $10 and bring down petrol prices to levels last seen in 2009.
Standard Chartered became the latest major bank to downgrade its oil outlook to $10, joining the likes of Goldman Sachs, RBS and Morgan Stanley in making ultra-bearish calls as prices have collapsed by 15pc this year.
Brent crude has now slipped to a fresh 12-year low of $30.41 a barrel, while West Texas Intermediate - the US benchmark - is trading at $29.93 - a level last seen in December 2013. Analysts warned the oil market remains fundmentally out of balance as record over-supply and stagnant demand weighs on traders.
Read more ....
WNU Editor: Not going to happen ($10/barrel) .... but governments are clearly worried .... Oil price slide may force new Russian budget, Medvedev says (BBC).
More News On Reports That The Price For Oil May Fall To $10/Barrel
Oil Prices Slide Again, and the Bottom Is Not Yet in Sight -- NYT
Major Bank Warns Oil Price Could Fall To $10 A Barrel -- Daily Caller
Oil prices hit by Iran supply, China slowdown but $10 a barrel unlikely, says IHS's Yergin -- CNBC
Oil prices will get worse before they get better: Analysts -- CNBC
$10 oil: Crazy or the real floor beneath the oil crash? -- CNN
Oil Keeps Falling. And Falling. How Low Can It Go? -- AP
2 comments:
There might be some trouble coming in the oil and gas market:
http://neveryetmelted.com/wp-content/uploads/2016/01/CycloneNarelle.jpg
Between low oil prices and Obozo's war on coal, a lot of industries are hurting.
The layoffs will continue until moral improves. Obama will see to it they are replaced with welfare and lower paying jobs.
When that lousy M-Fer was a senator, he talked a good game about clean coal. Since he became President not a peep. It was all talk.
Obama could not solve a difficult math problem to save his life. He has the hardware but he has loaded it with malware.
Post a Comment