Oil took a caning last night and this morning. WTI is at new lows though Brent is holding up better, down 2% at 48.61.
It seems only a matter of time before we go lower. That’s the view of Barclays, from the AFR:
Barclays slashed its 2015 Brent crude oil price forecast to $US44 a barrel from $US72, while Goldman said it expected prices for West Texas Intermediate crude to trade close to $40 per barrel for most of the first half of 2015.
