Crude oil is expected to return to its consolidation phase, with front-month Brent expected to stay range-bound between $40-$43/bbl, according to Howie Lee from OCBC Bank. Key quotes “The one-to-six month Brent spread has stayed relatively stable at about $2/bbl in the past week, while VLCC rates appear to have eased. It looks like the market is leaning towards creating near-term demand via lower prices.” “The failure of Brent to stay above $43/bbl last week suggests that the market structure is still bearish at the moment.” “We expect Brent to hover between $40-$43/bbl for now.” 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 USD/CAD holds steady near 1.3400 mark, below multi-week tops set last week FX Street 2 years Crude oil is expected to return to its consolidation phase, with front-month Brent expected to stay range-bound between $40-$43/bbl, according to Howie Lee from OCBC Bank. Key quotes “The one-to-six month Brent spread has stayed relatively stable at about $2/bbl in the past week, while VLCC rates appear to have eased. It looks like the market is leaning towards creating near-term demand via lower prices.” “The failure of Brent to stay above $43/bbl last week suggests that the market structure is still bearish at the moment.” “We expect Brent to hover between $40-$43/bbl for now.” 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.
