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Sharing thoughts on WTI

kennyp
· Views 526

WTI was seen to make a steep declined of 6% on Tuesday, as concerns over demand mounts. As countries such as US, Britain and India continue to battle a violent pandemic war, it contributes to the question of when will the pandemic end. WTI prices has slipped more than 15% this month. It is also worth to note that the strength of the USD has also been a collaborating factor with the selling sentiment in oil in past sessions.

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froz3nnoob
how far will crude oil drop? any ideas?
kennyp
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Me got no crystal ball so difficult to indicate firm predictions😂 Especially since I found it interesting the WTI was recently seen to move up about 3.7% despite the announcement from EIA that they have downgraded their 2020 global oil demand forecast by 210,000 barrels per day. Could possibly be a 'dead cat bounce' scenario, but let's see...

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