Despite spoiradic algo-crazed ramps, crude oil prices continue to slide back towards a $34 handle (in Jan ’16 contract) this morning following a reiterated downbeat note from Goldman warning that storage levels are “too full for comfort,” that positioning is not as stretched short as some believe, and confirming that this will not end until prices near cash costs to force production cuts, likely around $20/bbl.…..read more and view larger charts HERE
WTI Slides As Goldman Warns $20 Oil Looms, Crude Storage “Too Full For Comfort”
Posted by ZeroHedge
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