WTI Crude Oil - Neutral - Dropped Below Key Support

1 thg 10, 2019

We have a neutral view on oil despite believing there is significant upside potential for the oil market because prices have dropped below the key support level at $55.55. We would expect the market to now drop towards $50.4 but continued tensions in the Middle East which could cause a spike in oil prices at any time lead us to maintain our neutral view.