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Oil continues its incredible run as it climbs another $1

Citigroup hasn't quite thrown in the towel on oil yet. In August, they were saying crude would fall after summer ended and could hit $68/barrel. Now they say it could hit $100 in a 'technical' move while still maintaining that the oil market is headed for oversupply. “$90 prices look unsustainable,” said the team led by Ed Morse that has been notoriously bearish.Today, November WTI is up $0.94 to $90.98 while the October contract, which is thinning out, is up $1.03 to $91.82.Here's a good point... Read More

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Posted: Sep 18 2023, 13:20

Author Name: forexlive

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