Oil prices gyrate… Reuters – Commodity Research Group

November 28, 2016 by Jim Colburn Leave a Comment

From Reuters (http://www.reuters.com/article/us-global-oil-idUSKBN13N01J)

“On Sunday, Saudi Arabian Energy Minister Khalid al-Falih said that he believed the oil market would balance itself in 2017 even if producers did not intervene, and that keeping output at current levels could therefore be justified.”

I believe this… With no agreement, prices dump but recover.. With an agreement, maybe the trading range moves up to $45/$55… However, implied volatility for January options is up to 60%, with at the money straddles around $5, suggesting a big move on the other side of the meeting…

Commodity Research Group (CRG), founded by veteran analyst Edward Meir, is an independent research consultancy specializing in base and precious metals, as well energy products. The Group provides research and general price analysis for these markets, along with advice to companies seeking to construct commodity hedging strategies.

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