"OPEC members who don’t like the look of $30 per barrel oil should take a deep breath -- analysts at Standard Chartered think prices could hit $10(!) a barrel.
The bank argue that the strength of the US dollar, and pessimism in the stock market, could send oil down to levels not seen since 1999.
“Given that no fundamental relationship is currently driving the oil market towards any equilibrium, prices are being moved almost entirely by financial flows caused by fluctuations in other asset prices, including the US dollar and equity markets.
“We think prices could fall as low as $10/bbl before most of the money managers in the market conceded that matters had gone too far.”"
'via Blog this'
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