“For the time being, the path of least resistance for oil prices is lower,” Mike Wittner, head of oil market research at Societe Generale SA in New York, said by phone. Demand concernsIt’s not only the production of crude oil that has analysts concerned. “We are looking to return to $40 or below” for the US benchmark, West Texas Intermediate. “I think there’s a point where you see some bargain-hunting coming, and that point is $40 a barrel.” Bloomberg Now, as consumption falters and halted supplies return, analysts from BNP Paribas SA to JBC Energy GmbH warn prices may sink once more.

Source: Mint July 15, 2016 11:48 UTC