Commodity Trade Mantra

Posts Tagged ‘US Rig Count’

WTI Slides As Goldman Warns $20 Crude Oil Looms

Crude oil prices continue to slide back towards a $34 handle this morning following a reiterated downbeat note from Goldman warning that oil storage levels are “too full for comfort,” that positioning is not as stretched short as some believe, and confirming that this will not end until prices near cash costs to force oil production cuts, likely around $20/bbl.

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