08.01.2016 - Oil market 'more fragile' than prices show: Citi
U.S. oil prices of around $20 per barrel could still happen, Citigroup's Ed Morse, said Thursday as crude briefly hit 12-year lows of just over $32 per barrel. "You never know where the bottom is," Morse told CNBC's "Squawk Box." He said the recent tumble has been more severe than he'd anticipated. "We think the pressure is still going to be on for lower prices," he added. West Texas Intermediate crude was falling around 3 percent early Thursday, after a decline of 5.5 percent on Wednesday...............................................Full Article: Source
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