Get used to paying less at the gas pump. Oil prices are expected to stay at their currently low levels, and possibly even drop further, due to a “perfect storm” of risk factors, analysts say.
Oil prices continued to flirt with yearlong lows Monday. November Brent crude futures were down about 1.7 percent to trade near $88.50. WTI crude oil also dropped, albeit by a less dramatic amount, to near $85.49.
Those decreases may only be the beginning though, according to analysts. Dan Stobler, a managing director and partner at HighTower Bellevue, said the market could see oil prices come as low as the mid-70s in the next few months.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.