PEAK PESSIMISM: Everyone seems to think crude is going lower

Posted by Business Insider

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brent-crude-2004-2015

It has been a terrible year for crude oil. Despite a tentative bounce overnight, Brent crude has fallen by more than 36% in 2015, leaving the global benchmark price down more than 68% from mid-2014. 

It now sits at levels last seen 11 years ago, and, if the options market is anything to go by, speculators and oil producers themselves don’t expect the price to recover anytime soon.

brent-crude-2004-2015

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