Oil prices face downside risk
We expect oil prices to enter a correction stage and for Russia’s war in Ukraine to play less of a role in oil markets.
We expect oil prices to enter a correction stage and for Russia’s war in Ukraine to play less of a role in oil markets.
While the Ukraine conflict and sanctions on Russia have lifted oil prices higher, current prices may be temporary.
Oil prices have rocketed to seven-year highs. But we have a bearish view because current prices are unsustainable.
Oil prices have risen to multi-year highs on surging demand, tight supply, and the crunch on natural gas. We believe it is time to question the current rally.
Demand for oil has collapsed as the coronavirus pandemic devastates the global economy and curbs much of the need for fuel from companies and consumers.