"The familiar theme of oversupply and shaky demand is getting punctuated today," said Again Capital partner John Kilduff, who has expected WTI to aim for $30 per barrel. WTI futures for September fell more than 4 percent Tuesday and traded below $43.26 per barrel, the March 17 low.
Kilduff said, "$42.03 is going to be key. Then we'll be back to extrapolating back down to the low 30s from the financial crisis." He said if oil breaks $42.03, the next target is in the upper $30s at about $36, and then $32.
--http://www.cnbc.com/2015/08/11/opec-just-kicked-oil-into-the-30s.html
Update: Oil just settled below $39.
Now it is predicted to drop to $20.
Update: Oil just settled below $39.
Now it is predicted to drop to $20.
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