What's Next For Oil Prices?
By Nick Cunningham - Jun 22, 2020, 7:00 PM CDT
- With oil prices having rallied up to the $40 mark, some analysts have come out with bullish forecasts for the near-term.
- Plenty of risks remain however, and there are signs that the latest oil price rally may have hit a ceiling.
- In the very short term, money managers and hedge funds sold off some of their bullish bets when oil hit $40.
https://oilprice.com/Energy/Energy-General/Whats-Next-For-Oil-Prices23906.html
Brent is now under $43 US and starting to head south again. Could be yet another reason why OSH and WPL in the last 30 mins have dropped.
Looking good at over $43 US then it dropped.
$43 US may well be the high point for Brent into the future.
Corona is killing of companies. Many will fold.
Think its wiser to hold cash and let it drop which I suspect in will come July when the poor reporting comes out.
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