Top traders see oil price sustained by tighter market in second half of 2019 | Reuters

Top traders see oil price sustained by tighter market in second half of 2019 | Reuters:

Four of the world’s biggest traders expect the Brent oil price in 2019 to largely linger in the $60s a barrel with a slight rise in the second half of the year due to a tightening market, they said on the sidelines of the FT Commodities Global Summit.

Glencore’s head of oil Alex Beard expects Brent to stay in the mid-$60s while Gunvor chief executive Torbjorn Tornqvist saw $60s to low $70s a barrel.

“I think they (the Saudis) like to see the oil price where it is and not lower,” Gunvor’s Tornqvist said.