WTI trying to hold 55. Brent trying to hold 60

Some points from the above chart for WTI and Brent:

• Intermediate trend is down for above grades
• WTI attemping to hold 55
• Brent attempting to hold 60
• Differential is now only $4.47

Opec leader vows not to cut oil output even if price hits $20……………

In the MEES interview, Mr Naimi said Saudi Arabia and other Gulf oil producers would be able to withstand a long period of low crude prices, largely because their production costs were so low — at only about $4-$5 a barrel.

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“It is all about probabilities”

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