After falling to their lowest levels since OPEC agreed to cut production back in November last year, Goldman Sachs has warned oil prices are nearing "capitulation".
The firm said its 2017 forecast of $50 a barrel for Brent crude now faced a clear "downside risk" as US shale production continued to increase. The price of Brent crude fell 10% to as low as $46.64...
The US dollar is close to peaking and the risks now seem to be on the downside.
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