All of those news events conspired to weigh on prices, said Daniel Pavilonis, senior commodities broker with RJO Futures.
Falling demand combined with higher supply are working in concert to pressure oil prices, he said. Crude oil prices are in a downtrend that started in March after setting this year’s high of $111, and it’s one that’s unlikely to change in the near-term, analysts said.
To read the full article with Dan comments, please go to Kitco.com
Series 3 Licensed
Senior Commodities Broker
Daniel started his career as a broker with Lind-Waldock in 2007. He is well diversified in the markets with the indexes and currencies amongst his favorites. Daniel can often be found quoted in industry sources, such as Bloomberg, Dow Jones Newswires, WSJ and Futures magazine..... Read More
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