Oil: No end in sight for crude oil – TDS

Prices continue falling in the oil markets, analysts at TD Securities inform. WTI trades at $28.894 while Brent does it at $30.720. 

Key quotes

“There appears to be no end in sight for crude as WTI prices settle in the high $20/bbl range, while Brent crude has also fallen below $30/bbl for the first time in four years, with the WTI-Brent differential now closing to less than $1/bbl as OPEC/Russia flood the market.” 

“The latest news that Saudi Arabia would boost exports to a record high of 10m bpd, over 2m bpd more than the previous high, is just the latest sign that the price war is here to stay.”

“Elevated volatility will continue to constrain position sizing.”