Info

Two Rules | Rule #1 Do Not Lose Your Principal | Rule #2 See Rule #1

Oil prices have crashed to below $30-a-barrel amid warnings the rout could reach as low as $10 and bring down petrol prices to levels last seen in 2009.Standard Chartered became the latest major bank to downgrade its oil outlook to $10, joining the likes of Goldman Sachs, RBS and Morgan Stanley in making ultra-bearish calls as prices have collapsed by 15pc this year.Brent crude has now slipped to a fresh 12-year low of $30.41 a barrel, while West Texas Intermediate – the US benchmark – is trading at $29.93 – a level last seen in December 2013. Analysts warned the oil market remains fundmentally out of balance as record over-supply and stagnant demand weighs on traders.

Source: Oil could crash to $10 a barrel, warn investment bank bears – Telegraph