Back
2 Apr 2015
Has Oil bottomed out? – Scotiabank
FXStreet (Barcelona) - Camilla Sutton CFA, CMT, Chief FX Strategist at Scotiabank, comments that Oil market seems to have bottomed up, but geopolitical risks seem to be the core driver for now.
Key Quotes
“Oil markets look increasingly like they have bottomed, but remain exposed to developing geopolitical risk.”
“Bloomberg is reporting that there has been no agreement made leading into the expected release of a statement; while developments in Yemen continue to unfold.”
“However on the U.S. side, inventories continue to build; however yesterday’s EIA release highlighted an important production decline, which is supportive of oil prices.”
Key Quotes
“Oil markets look increasingly like they have bottomed, but remain exposed to developing geopolitical risk.”
“Bloomberg is reporting that there has been no agreement made leading into the expected release of a statement; while developments in Yemen continue to unfold.”
“However on the U.S. side, inventories continue to build; however yesterday’s EIA release highlighted an important production decline, which is supportive of oil prices.”