Singapore Stock Market News

Crude Oil - The Shift In Focus

StockFanatic
Publish date: Thu, 14 Jun 2012, 01:39 PM
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Oil prices have fallen below its psychological levels, notably with Brent and WTI fading below $100/bbl and $85/bbl (refer to technical analysis below) respectively. Given the shift in focus from geopolitical concerns between Iran and the Western powers to the deepening Eurozone banking concerns, the fall in prices from their 2012 high is not surprising. However, key fundamentals have radically evolved over the span of three months, which ultimately convinced us that crude oil prices are set to decline further to late 2010 levels by end year.
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