DuyNguyen0205

Where is Brent oil heading next?

TVC:UKOIL   CFDs on Brent Crude Oil
As we get closer to the date of OPEC meeting this month, June 25th, Brent again is quite to be volatile and based on the status quo of the world right now, nothing is certain anymore as the trade wars may drag on into 2020 and even further in the future. All of us can read on the news that supply is surplus and demand is kinda low at the moment. Would it be enough to drag Brent oil down to below $55 or even below $50. Also, Russian Energy Minister Novak has said he couldn't rule out a scenario in which oil could fall to $30 if the global oil deal wasn't extended. But from now until June 25, I think even if Brent drops to $55, OPEC will agree to extend their deal in order to help the market. Just remember, don't be too hopeful.
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