October 14, 2020
Plunge In That Period
Crude oil futures have not traded around single
screw barrel that level for any length of time since the late 1990s and the
options market suggests few bel-ieve prices will return there in 2016.
end-ofLocation: Canada, Ontario, London.The options market indicates investors
are braced for US crude prices to drop to around $35 in the first half of 2016,
but most do not expect a steeper plunge in that period.
Oil
derivative traders are preparing for crude prices to fall further in the coming
months, but few expect Goldman Sachs’ worst-case scenario of a drop to $20 a
barrel to happen any time soon.US crude futures fell below $37 a barrel for the
first time since early 2009 on Tuesday after Opec’s most recent policy meeting
resulted in acrimony and no decision to cut output.
Oil derivative traders are
preparing for crude prices to fall further in the coming months, but few expect
Goldman Sachs worst-case scenario of a drop to $20 a barrel to happen any time
soon.Goldman Sachs has said prices could drop as low as $20 a barrel at some
point, hit by a growing global crude glut and sluggish dem-and.
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09:27 AM
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