$70 Oil Could Be Right Around The Corner

in #oil6 years ago

This could be another fork in the global economy.

The drop in oil prices is of great help to consummers who effectively receive a "tax" break when gas prices go down. We could see this trend reverse in 2019.

Some see oil prices bottoming. One of the main reasons for this outlook is the 40% drop since October was not based upon the fundamentals but the trading. With so many futures contracts changing hands, the pricing gets very cyclical.

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i see it going lower first during the recession coming