Crude oil took two big hits last week – stalled US fiscal stimulus talks and President Trump taking ill with COVID-19. The latter appears to be an exogenous shock and strategists at OCBC Bank expect Brent Oil prices to recover to its $40-$43/bbl range. Key quotes “ Brent fell 7.2% across last Thursday and Friday and closed below the critical $40 handle on Friday. The US President taking ill with COVID-19 sent Brent spiralling on Friday but we view that as a one-off exogenous shock that impacted sentiment more than fundamentals.” “Reports suggest Trump might be leaving the hospital as early as today and that is expected to lift risk sentiment from here.” “We expect Brent to return to the $40-$43/bbl range within this week.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next UK PM Johnson: We are working hard to get a vaccine FX Street 2 years Crude oil took two big hits last week – stalled US fiscal stimulus talks and President Trump taking ill with COVID-19. The latter appears to be an exogenous shock and strategists at OCBC Bank expect Brent Oil prices to recover to its $40-$43/bbl range. Key quotes “ Brent fell 7.2% across last Thursday and Friday and closed below the critical $40 handle on Friday. The US President taking ill with COVID-19 sent Brent spiralling on Friday but we view that as a one-off exogenous shock that impacted sentiment more than fundamentals.” “Reports suggest Trump might be leaving the hospital as… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
