main Wall Street bank says price will keep falling whether China’s currency continues its plunge against US dollar The price of crude oil could tumble to $20 a barrel in the coming months whether China’s currency continues to decline against the US dollar,one of Wall Street’s main investment banks has predicted.
On a day when the cost of crude hit a novel 12-year low and edge closer to the $30 a barrel level, Morgan Stanley posted a forecast on Monday of $20-25 a barrel for oil based on movements in currencies. Related: China shares fall another 5%, or Europe slips back as oil tumbles - as it happened Continue reading...
Source: theguardian.com