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Video: Crude OIl in Middle of Week April 27 – May 1, 2020

April 29, 2020 at 14:33 by Vladimir Vyun

In the present video, Phil Carr from The Gold and Silver Club talks about crude oil in the middle of the week of April 27– May 1, 2020. He starts with the mention of the fact the prices for WTI touched the psychologically important $10 level. Next, Phil explains what factors can affect the commodity this week, namely, US oil inventories reports and the Federal Reserve monetary policy meeting. He then speculates where prices may go next. Phil thinks that if crude will be able to sustain a rally above $17 then a further move up to $20 is possible. But if prices break below $10 then crude can collapse to $0 yet again.

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