| Leading Wall Street bank says price will keep falling if China’s currency continues its plunge against US dollar. The price of crude oil could tumble to $20 a barrel in the coming months if China’s currency continues to decline against the US dollar, one of Wall Street’s leading investment banks has predicted.
On a day when the cost of crude hit a new 12-year low and edge closer to the $30 a barrel level, Morgan Stanley posted a forecast on Monday of $20-25 a barrel for oil based on movements in currencies...............................................Full Article: Source
|