Driven by both a technical level break and comments from Saudi crown prince bin Salman, WTI Crude just tumbled to below $47.50 – its lowest since early November…
Breaking below last week' slows, testing stops below early March's lows…
WTI broke down to pre-OPEC deal levels…
After Saudi Crown Prince Mohammed bin Salman commented… saying OPEC and Non-OPEC deal was unprecedented, and that the optimistic scenario for oil prices if $55, and $45 is lowest.
- *SAUDI PRINCE: SAUDI BUDGET DEFICIT NARROWED MORE THAN EXPECTED
- *SAUDI PRINCE: SAUDI ECONOMY AVOIDED RECESSION
- *SAUDI PRINCE: NON-OIL REVENUE IN 1Q EXCEEDED EXPECTATIONS
- *SAUDI PRINCE: OPEC, NON-OPEC DEAL WAS UNPRECEDENTED
And we also note that RBOB (Gasoline) prices have tumbled to 8-month lows…
via http://ift.tt/2pCwu5G Tyler Durden