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Brent Crude – How Low Can it Go? (Video)

Brent and WTI crude have been on a slippery slope since OPEC and non-OPEC officials announced a deal to extend production cuts by another nine months. With traders perhaps expecting more and questioning whether it would be enough to offset rising production in the US, it soon became a case of how low prices would go.

In this video, Senior Market Analyst Craig Erlam discusses the cuts, explains why he believes the market may have found a temporary bottom and why data over the last 24 hours may have assisted in this.

DAX Edges Higher on Strong German, Eurozone Manufacturing Reports [1]

Dollar Direction to be dictated by Climate [2]

US Data and Oil Inventories Key on Thursday [3]

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.

Craig Erlam

Craig Erlam [6]

Senior Currency Analyst at OANDA [7]
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam

Latest posts by Craig Erlam (see all [6])