Its a tug of war for the oil price right now no ones winning

A tugofwar between oversupply and speculation is keeping oil prices moving sideways, according to Saxo Bank s Head of Commodity Strategy Ole Hansen. Ranges are tightening, and that may well give traders the sense that a move in the markets is imminent. WTI is trading at around USD but both the 13 day and 20 day moving averages haven t been troubled since September. The market is attracting many investors keen to be well positioned ahead of an anticipated move upwards. Ole Hansen brings tr