Research note from macquarie on oil......

Research note from macquarie on oil...

http://www.copyright link/markets/oil-and-gold-will-be-higher-for-longer-macquarie-20171030-gzbhve

Oil

Brent crude, the most sensitive commodity to supply and demand constraints, was mostly stable until the 1970s, when an embargo imposed by members of OPEC led to fuel shortages and sky-high prices.
The 1990s saw a lot of movement; oversupply in the early 1990s saw it drop near to historical lows, before war and conflict damaged supply and it rallied sharply until 2012.

With prices stabilising now, and Middle Eastern supply butting heads with the shale gas revolution in the US, Macquarie thinks oil has found a new higher trading band.