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Commodities Briefing - Categorized | Oil, Price Watch more

Where Does the Oil Price Goes From Here?

Posted on 17 June 2014

The price of oil is trading near nine-month highs as the situation in Iraq remains febrile. Oil market analysts Monday described the situation as “more persistent than geopolitical scares in Syria and Ukraine,” and said continual headlines would “begin to change the market psychology.” Here are their views on where the price of oil goes from here:
Peter Helles, Commodities Strategist at Bank of American Merrill Lynch: The range of potential outcomes is broad. In our view, the two most likely scenarios are a stalemate or a limited retrenchment of ISIS as the Iraqi army fights back. In both instances, we see Brent in a $105-$115 a barrel range………………………………………..Full Article: Source


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