23.01.2015 - How To Short Oil With ETFs
A respite to the oil price havoc has been wiped out with some forecasting a further drop in the days ahead. The commodity has been on a wild ride over the past six months, plunging about 60%. In fact, oil saw the biggest weekly decline last week since March 1986. This is especially true as a boom in U.S. shale oil production, abundant supplies, no output cut by the Organization of the Petroleum Exporting Countries (OPEC) as well as slowing demand in the U.S., Europe and China are heavily weighing on the demand/supply picture. As per the latest EIA report, the U.S. crude stockpiles rose 5.4 million barrels in the week (ending January 9), much higher than the market expectation of a 417,000-barrel increase...............................................Full Article: Source
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