The plunging price of crude oil
Hilliard MacBeth, CIM, FCSI®
![Hilliard MacBeth, CIM, FCSI®]()
Hilliard MacBeth, CIM, FCSI®
Portfolio Manager & Investment Advisor, Richardson Wealth
The price of crude oil, known as West Texas Intermediate (WTI) took a tumble in the past week below $40. This setback brings into question the six month rally that went from $26 in January to a peak of $52 in mid-June.
Some analysts think WTI might be heading back to the January lows, in the 20s, or even lower. Other prognosticators expect the market to be in balance by 2017 which would allow the price to inch back up into the $50 range.
Who will be right?