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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (77108)	2/15/2020 12:10:36 PM
From: Goose94	Read Replies (1) of 203329

Crude Oil: rebounded in the second half of this week, as markets eyed progress in China on the coronavirus. “The market is getting more comfortable that we’ve hit the bottom,” Rebecca Babin, a senior equity trader at CIBC Private Wealth Management, told Bloomberg. “Oil markets have discounted the worst case and could show more resilience as long as cases outside of China are not spiking.” The IEA not only revised down its full-year 2020 oil demand forecast, but it also said that first quarter consumption would contract by over 400,000 bpd, the first year-on-year contraction in more than a decade. The agency said that the market remains in flux, and predicted a steadying of the supply/demand balance in the second half of the year.

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