| Oil prices could weaken again but they are unlikely to plumb new depths this year, leading commodities traders said on Tuesday, citing strengthening demand. Ian Taylor, head of the world’s largest oil trader, Vitol, told Reuters he thought global benchmark Brent crude oil, which tumbled 60% to just above US$45 (RM163) a barrel in January, could dip again briefly.
But the oil market had likely already seen its 2015 lows. “We will probably see one more dip in the second quarter but prices probably won’t go below this year’s lows,” Taylor told Reuters on the sidelines of the FT Commodities Summit in Lausanne.........................................Full Article: Source
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