Governments Could Keep Lid on Oil Prices – Analyst (USO) (OIL)
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Petromatrix, an analytics firm in Switzerland, is making an interesting call on oil today. Oliver Jakob, managing director, thinks a $10 per barrel rise in the price oil would trigger "hard destruction" of demand. He also thinks a $10 increase in prices would make governments consider releasing emergency inventories. If true, it could keep a lid on fast rising oil prices. Brent crude oil currently trades at $98.64. WTI futures trade at $84.61. United States Oil Fund LP ETF (NYSE: USO) trades at 31.88 in pre-market trading on Friday.
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