Wednesday’s 4.5 percent surge in Brent crude futures (LCOc1), the biggest percentage gain since June 2012, came as traders covered themselves on expiring options. “We are again lowering our oil price forecast to reflect what will likely be an oversupplied market through at least the first half of 2015,” U.S. investment bank Jefferies International said on Thursday.
Published in TZ Latest News 14 January, 2015 by The TZ Newswire Staff
Oil dips after big rally as oversupply weighs on market
Published in TZ Latest News 14 January, 2015 by The TZ Newswire Staff
Oil dips after big rally as oversupply weighs on market
Wednesday’s 4.5 percent surge in Brent crude futures (LCOc1), the biggest percentage gain since June 2012, came as traders covered themselves on expiring options. “We are again lowering our oil price forecast to reflect what will likely be an oversupplied market through at least the first half of 2015,” U.S. investment bank Jefferies International said on Thursday.