There’s nobody around to catch a falling oil price – Danske Bank

The oil price sell-off has accelerated since Friday as the trade war deepened and the risk of a recession in the US rose, Danske Bank’s FX analyst Frederik Romedahl reports.

Oil price sell-off accelerates

“OPEC+ decision Thursday effectively means there is no longer anybody around to catch a falling oil price. Hence, if other big countries retaliate this week and/or it becomes clear that the US goes ahead with it planned large scale tariff hike, the oil price could easily drop below USD60/bbl and further.”