SaxoTV

Hansen: Oil’s rollercoaster ride continues

496 views
April 10, 2015 commodities, commodities markets, commodities oil, commodities prices, commodities supply, commodity, commodity market, commodity markets, commodity outlook, commodity prices, commodity strategy, commodity trade, commodity trading, crude, crude oil, crude oil price, crude oil prices, crude price, crude prices, crudeoil, cushing, hansen, iran, iran oil, iran sactions, iran sanctions, iranian oil, iranian sanctions, ole, ole hansen, ole hansen commodities, ole s hansen, ole saxo, olehansen, saxo, saxo bank, saxo bank commodities, saxo bank group, saxo bank saxo tv, saxo bank trading, saxo bank trading floor, saxo bank tradingfloor.com, saxo bank tv, saxo capital markets, saxo traders, saxo trading, saxo tv, saxo tv saxo bank, saxo tv trades, saxo tv trading floor, saxo tv tradingfloor, saxo tv tradingfloor.com, saxobank, saxotrader, saxotv, trade idea, trader, trading, trading commodities, trading floor, tradingfloor, tradingfloor saxo bank, tradingfloor saxo tv, tradingfloor.com, tradingfloor.com saxo tv, tradingfloorcom, us oil, us oil inventories, us oil production, us oil stocks, wti, wti and oil, wti crude, wti crude oil, wti price, wti supply, wti us
Volatility in the oil market remains high with extreme intra-day moves this week, says Saxo Bank’s Ole Hansen. Crude oil rose 10% before plunging almost 6% after data released on Wednesday showed US inventories hit another record high.  

Ole Hansen says the outlook for oil remains uncertain. While factors such as US oil production being close to a peak could drive the price up, the recent deal with Iran to curb its nuclear programme could add to global production, driving the price down, he says.

Ole Hansen says his preferred trade would be to play the range WTI crude oil is currently trading in, looking to sell towards the USD 55 area and having a relatively wide margin on stops.