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CNBC reports that the sharp decline in oil in addition to the release of oil by the SBR may cause oil prices to drop to $85.
CNBC reports that the sharp decline in oil in addition to the release of oil by the SBR may cause oil prices to drop to $85.
The market news is quoted as saying,
Rich Ilczyszyn of Lind-Waldock thinks the bottom is probably $85 and suggests using that level as a stop. “If oil bangs against the level, I’m a buyer,” he says.
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| Commodities | |||
|---|---|---|---|
| Gold | 2344.53 | 0.00 | |
| Silver | 27.94 | 0.00 | |
| Copper | 4.32 | +0.06 | |
| Oil | 85.45 | -0.14 | |
| Heating Oil | 2.68 | +0.02 | |
| Natural Gas | 1.77 | +0.01 | |
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