President Trump’s intent to intervene in the Saudi-Russian price war helped WTI crude oil post its largest daily gain, strategists at TD Securities apprise. WTI is being exchanged at $25.572. Key quotes “We suspect that price action reflects a sharp short covering rally amid severely tempered liquidity.” “Given weaker and weaker demand expectations and surging OPEC+ production levels, crude oil could well drop below $20/b in the not-too-distant future, as surging supply overwhelms shrinking demand and straining storage capacity.” “Trend followers remain well positioned for the sharp decline in prices, but we also see a faint light at the end of the tunnel, as incentives are high for an eventual meeting to take place that could translate into a supply curtailment agreement.” 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 Italy: Treasury sees 2020 GDP fall of around 3% in highly uncertain scenario – Reuters FX Street 2 years President Trump's intent to intervene in the Saudi-Russian price war helped WTI crude oil post its largest daily gain, strategists at TD Securities apprise. WTI is being exchanged at $25.572. Key quotes “We suspect that price action reflects a sharp short covering rally amid severely tempered liquidity.” “Given weaker and weaker demand expectations and surging OPEC+ production levels, crude oil could well drop below $20/b in the not-too-distant future, as surging supply overwhelms shrinking demand and straining storage capacity.” “Trend followers remain well positioned for the sharp decline in prices, but we also see a faint light at the end… 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.
