No celebrations in the oil patch
WTI and Brent weekly chart showing the intermediate downtrend. WTI could not hold above 55 for the year-end. Brent could not hold above 60. One can only conclude that the price of both grades is going lower unless there is a significant geopolitical event.
Reference my post from November 28, 2014: Barring a major supply disruption, Brent is heading lower
“It is all about probabilities”
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