August 18, 2015

THERE IS NO FLOOR:

Why oil prices could sink to $15 a barrel (Matt Egan, 8/18/15, CNN Money)

Oil prices have already taken a dramatic fall that's saved consumers big time at the pump. Last week, crude tumbled below $42 a barrel, down from $100 last year.

One big-name investor is predicting an even sharper drop.

"There is no evidence whatsoever to suggest we have bottomed. You could have $15 or $20 oil -- easily," influential money manager David Kotok told CNNMoney.

A further decline to $15 a barrel would be huge. Oil hasn't traded that low since early 1999, when gasoline at the pump was selling for under $1 a gallon.

The cartel is broken and the petrostates have nothing else but oil to offer.

Posted by at August 18, 2015 5:14 PM
  

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