Rough week for WTI

[Simpleman1 0]

It’s been a rough week pre-Christmas. Even at these levels, for traders and leveraged players,  WTI’s 10% fall from 50 to 45 translates to augmented losses. We’ve seen this trend before - the last time the bears pushed WTI to 40 and below. We know the oversupply is taking time to drain off. Worst still with China buying only from Iran and Russia amidst slowing global demand - I think USD40-45/barrel for WTI may become the new norm for a couple of months. 

Edited December 22, 2018 by Simpleman1
Grammar

[A/Plague + 50]

a decline from 50 to 45 was expected

Edited December 23, 2018 by A/Plague