Baytex Energy Corp T.BTE

JPMorgan Chase & Co forecast Brent breaking below $60

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This was out 2hrs ago when early trading had Oil hit $70 now Oil is in the red @ $69 but this trading means little by tomorrow it'll be in another timezone. The only reason for this post is Brent is now projected to hit $60 so you can imagine where WTI will be. Nothing is carved in stone, Oil could easily rally on any event that will cause production loss or improvements in the financial system restoring confidence and risk appetite it will happen so let's hope that its sooner than later. 

Oil Edges Higher After Weekly Gain as Banking Concerns Linger - BNN Bloomberg

The rout might not be over just yet, with JPMorgan Chase & Co. forecasting Brent could break below $60 a barrel in the near term.

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I'm sure that opec+ will intervene if Brent oil goes below $70 since they mentioned that in the past. Anything below $70 is not good since Saudi Arabia's economy relies on oil bring above $70. We'll see what happens this week