11 Nov 2019 11:55

VIEWPOINT: Brent prices to remain at $60-64/barrel in short term - Promsvyazbank

MOSCOW. Nov 11 (Interfax) - Brent prices will remain at $60-64 in the short term, according to Promsvyazbank analyst Yekaterina Krylova.

"Oil remains a hostage to the constantly changing news on the course of U.S.-China trade talks. For instance, on Friday, there were statements from the U.S. side that the cancellation of duties had not been discussed, but the Chinese side announced the opposite. This led to an oil sell-off, with Brent prices falling to under $61 per barrel, but it was unable to consolidate at that level. As of Monday morning, oil is still trading at around $62 per barrel. We believe that it will remain at $60-64 per barrel for now," Krylova wrote.

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