What's Affecting Oil Price
For the upcoming week Stratas Advisors expects that crude inventories will draw in line with seasonal norms.
For the week ahead Stratas Advisors expects prices to average $53/bbl as the adage “no news is good news” holds true.
For the upcoming week, Stratas Advisors expects crude inventories to see draw in line with seasonal norms.
Stratas Advisors expects crude oil prices for the week to remain flat or fall on fears that the market is overbought.
For the upcoming week: oil prices are expected to average sub-$50, but will benefit from improved sentiment and fundamentals.
Stratas Advisors expect oil prices to be under pressure as oversupply concerns weigh despite a larger than expected draw last week.
Trader sentiment remains the biggest single driver of crude prices as Stratas Advisors forecasts Brent to hover around $45 this week.
Stratas Advisors expects that crude inventories will decrease between 2.5 and 3.5 million barrels as U.S. crude runs remain stable.
Crude oil prices are taking a beating, but Stratas Advisors continues to contest that market fundamentals are improving.
For the upcoming week Stratas Advisors forecasts that the price of Brent crude will be under pressure and will test $49.