Oil prices heading further south, metal taking a breather – Commerzbank

By FXStreet FXStreet (Delhi) – Barbara Lambrecht, Research Analyst at Commerzbank, suggests that with sanctions on Iran lifted, more oil is flooding the markets.

Key Quotes

“Although the additional supply had been imminent for some time, current sentiment ought to send prices further south. Against this backdrop, the fact that the energy agencies will likely signal a mid-term reduction in oversupply does not really provide support. Chinese economic data and data on metal market balances should slightly ease concerns of a sharp decline in demand on base metal markets.”
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Source:: FX Street