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Trading news
3 Feb 2020
Oil: Q1 2020 price forecast cut by $15/ barrel – Citibank
Analysts at Citi group slash their oil price forecast for the first quarter of 2020, in its latest client note released on Monday.
Key Quotes:
“The coronavirus outbreak has drastically shifted the economic outlook for China and globally
Oil forecast cut by $15 per barrel to $54 per barrel.
Iron ore may fall to 70$ per tonne.
Forecasts lower for other metals also; they may see a rebound in H2 of this year.
Coronavirus impact may peak in Q1.”