Market News
Oil at $50? The High Cost of Cheap Crude - BARRON'S
Oil prices have been sliding, and investors are bearish. But they may not be bearish enough. Despite a rally to $61 a barrel by Friday, U.S. benchmark West Texas Intermediate crude was still far off the January high of $78. “We think WTI near $50 per barrel is likely the next key level on the current trajectory,” wrote RBC Capital Markets strategist Brian Leisen.
Oil prices are falling as the commodity gets squeezed by supply and demand woes: rising output from OPEC and soft demand from tariffs. Investors hope the big producers retrench.
