Have we reached a bottom or is this still more room to fall for oil prices its possible that theres more room to fall if opec and plus russia doesnt actually end up coming through with those supply cuts if they dont then you could see will fall further and therefore will fall through the 50. 00 to 55. 00 area i think in the near term youre going to see a lot of traders get on shorts and take that lower but i think that will be short lived i think ultimately the risk is really more to the upside than the downside and so there are actually traders out there you know ranting supertankers and will facility space in south korea to the to the millions of barrels of oil that theyre storing on that oil will eventually rise and i believe that theyre right now sean are we still looking at a chance that chinese Oil Storage Capacity could actually run out and oil prices overshoot even more to the downside. Its possible they dont really publish their numbers officially but from what i gather theres
Deal and its official the u. S. And china have their phase one trade deal but this is just the beginning of law a long negotiation process theres a lot to break down here and were excited to have Richard Wolfe both of economic update on here to help us cut through the slopes and dig through the details. And while we have seen a breakthrough on the play front the tension is still present in the tech sector and the race but we take a look at the latest battleground in the telecom fight taking place in the United Kingdom so much to get to and sell little time lets go. Despite this touted as a quote a landmark signing of phase one between president and vice premier and they all the markets are still on enthused phase one has pretty much been priced into the market already so if anything additional detail starts to take the steam out of the rally and it came of the surprise that existing u. S. Tariffs on chinese goods will stay in place even after the deal is signed bloomberg reports that t
A long negotiation process theres a lot to break down here and were excited to have Richard Wolfe both of economic up on here to help us cut through the slopes and dig through the details. And while we have seen a breakthrough on the prey front the tension is still present in the tech sector and the race. We take a look at the latest battleground in the fight taking place in the United Kingdom so much to get to and sell a little time lets go. Despite this touted as a quote a landmark signing of phase one between president and vice premier li all the markets are still an interest phase one has pretty much been priced into the market already so if anything additional detail starts to take the steam out of the rally and it came of the surprise that existing u. S. Tariffs on chinese goods will stay in place even appy the deal is signed bloomberg reports that the 2 sides have an understanding that no sooner than 10 months but u. S. Will review the progress and potentially. Additional terrac
Also cut supply again by 1700000 Barrels Per Day though any decision made was obviously take time to implement so where do you think this equilibrium is at and have we reached a bottom or is this still more room to fall for oil prices. Its possible that theres more room to fall if opec and plus russia doesnt actually end up coming through with those supply cuts if they dont then you could see oil fall further and if oil falls through the 50 1. 00 to 55. 00 area i think in the near term youre going to see a lot of traders get on short and take that lower but i think that will be short lived i think ultimately the risk is really more to the upside than the downside and so there are actually traders out there you know running supertankers in. A facility space in south korea to the tune of millions of barrels of oil that theyre storing on bets that oil will eventually rise and i believe that theyre right. Are we still looking at a chance that chinese Oil Storage Capacity could actually run
Theres more room to fall if opec and plus russia doesnt actually end up coming through with those supply cuts if they dont then you could see will fall further and therefore will fall through the 50. 00 to 55. 00 area i think in the near term youre going to see a lot of traders get on short and take that lower but i think that will be short lived i think ultimately the risk is really more to the upside than the downside and so there are actually traders out there you know running supertankers and will facility space in south korea to the to the millions of barrels of oil that theyre storing on that oil will eventually rise and i believe that theyre right now sean are we still looking at a chance that chinese Oil Storage Capacity could actually run out and oil prices overshoot even more to the downside. Its possible they dont really publish their numbers officially but from what i gather theres about 400000000 barrels that theyve already got in capacity that are that used and theyve got