- Analytics
- News and Tools
- Market News
- WTI to surge back to recent highs above $120 on any unanticipated supply interruption – TDS
WTI to surge back to recent highs above $120 on any unanticipated supply interruption – TDS
WTI crude oil continued to extend losses on Wednesday to trade at just below $96.50. Any news suggesting a potential new supply disruption could easily move WTI prices back into the $120s or higher again, strategists at TD Securities report.
Deficit risks remain
“Russian oil output may drop by a quarter next month and stay there, or perhaps drop further in the coming months. Similarly, Saudi Arabia and the UAE are not promising more crude oil despite UK prime minister's trip to petition for supply increases.”
“Any unanticipated supply interruption could easily see prices surge back to recent highs above $120/b, as the market prices H2-2022 deficits with little inventories to fill the shortfalls.”
“There is limited ability to replace or fully redirect Russian crude in the near-term, and in the medium term too due to geography and lack of infrastructure to bring supply to markets which are willing to take that crude.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
