Lawrence Eagles Next Quotations

There were a few signs overnight that, although clearly tensions are rising, there is a window of opportunity for some peace settlement over the next three days.

Given the paranoia of the cartel that it is currently pumping too much oil and that this threatens a price collapse early next year, caution will clearly be the main watchword.

Our feeling is that with the current surplus of physical crude that prices will continue to erode from here for the next week or two.