8 Mar 2016
Oil prices booming – Deutsche Bank
Research Team at Deutsche Bank, notes that the oil markets continued their strong surge of late yesterday.
Key Quotes
“WTI and Brent rallied +5.51% and +5.48% respectively with the former closing back in on $38/bbl and the latter ending the day back above $40/bbl for first time since December 9th.
Sentiment was boosted after the news of another drop in the number of operating rigs last month while expectations continue to build ahead of a potential meeting between OPEC and non-OPEC producers later this month. In fact, the latest move has now seen WTI move into positive YTD territory (+2.21%) for the first time this year with Brent (+9.55%) already well through that level.”
Key Quotes
“WTI and Brent rallied +5.51% and +5.48% respectively with the former closing back in on $38/bbl and the latter ending the day back above $40/bbl for first time since December 9th.
Sentiment was boosted after the news of another drop in the number of operating rigs last month while expectations continue to build ahead of a potential meeting between OPEC and non-OPEC producers later this month. In fact, the latest move has now seen WTI move into positive YTD territory (+2.21%) for the first time this year with Brent (+9.55%) already well through that level.”