$40 WTI Is Now More Realistic Than $60

The current rise in oil prices is more of a fear trade right
now, driven by fear of what is going on in the Middle East, rather
than a result of growing OPEC chatter or inventory reports, Todd
Horwitz, chief strategist at Bubbatrading.com, told Bloomberg on
Wednesday. “The oil premiums are very narrow going out to the
future, which means that this is more of a fear trade in the front
month,” Horwitz said on ‘Bloomberg Markets’. “To me, this is more
of just another farce of what OPEC is trying to do, and trying to
push…

The current rise in oil prices is more of a fear trade right
now, driven by fear of what is going on in the Middle East, rather
than a result of growing OPEC chatter or inventory reports, Todd
Horwitz, chief strategist at Bubbatrading.com, told Bloomberg on
Wednesday. “The oil premiums are very narrow going out to the
future, which means that this is more of a fear trade in the front
month,” Horwitz said on ‘Bloomberg Markets’. “To me, this is more
of just another farce of what OPEC is trying to do, and trying to
push…