16.06.2016 - Oil could shed more than half its value to $20, analyst says
Oil futures have staged a magnificent comeback in recent months. However, if history is any guide, the struggling market isn’t out of the woods. Looking at the performance of West Texas Intermediate crude oil since 1870, Paul Jackson, head of research at exchange-traded-fund provider Source, predicted that prices will tank to $20 a barrel, or about 60% from its current levels, and languish for a while, before recovering. “What you find is that in four out of every five months since 1870 the price has been between $20 and $60, when you measure in today’s prices,” he said..............................................Full Article: Source
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