Crude oil prices tumbled after US President Trump announced new tariffs on Chinese goods. Still, Rabobank analysts remain bullish on oil prices. They see the current oil market setup is looking a lot like the second half of 2017. Key Quotes: “Oil markets have been unable to break out over the last few weeks as bullish fundamental data has been undermined by weak economic data and a surging US dollar.” “US crude stocks dropped by an impressive -8.496mb on the week with stocks at the key Cushing hub declining by -1.533mb” “Looking forward we remain bullish oil prices despite the recent bout of macro and trade inspired weakness. Our base case forecast remains for Brent to rally to $75/bbl in 2H19 and we continue to see 4Q19 as a key market inflection point.” “We see a very similar market setup to 2H17 when oil prices rallied over 25% on the back of large crude stocks declines and aggressive speculative buying.” “We see the current low exposure to oil markets from large speculators as setting the stage for a strong rally later this year.” 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 AUD/USD technical analysis: Aussie off 2019 lows battling with the 0.6800 figure FX Street 4 years Crude oil prices tumbled after US President Trump announced new tariffs on Chinese goods. Still, Rabobank analysts remain bullish on oil prices. They see the current oil market setup is looking a lot like the second half of 2017. Key Quotes: "Oil markets have been unable to break out over the last few weeks as bullish fundamental data has been undermined by weak economic data and a surging US dollar." "US crude stocks dropped by an impressive -8.496mb on the week with stocks at the key Cushing hub declining by -1.533mb" "Looking forward we remain bullish oil prices… 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.