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Fox Capital Partners Report Reveals Oil Below $28 On Iranian Supply



2024-03-29 04:25:15 Environment

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Fox Capital Partners: Oil falls again after ending of sanctions on Iran portends arrival of more crude on already-oversupplied market.

According to a report by Fox Capital Partners, oil prices fell below $28 Monday after sanctions on Iran were formally lifted over the weekend. The move brings with it the likelihood that even more crude oil will arrive on an already-oversupplied market, depressing prices further.

After inking a landmark deal with the international community to end its pursuit of nuclear power last year, Iranian oil will hit the global market as soon as this week but Fox Capital Partners says it is surprised the actual event caused prices to sell off.

?The arrival of Iranian oil has been telegraphed for some time now. It didn?t or at least shouldn?t have come as a surprise to the market. That suggests that sentiment towards crude isn?t quite ready to turn positive. That being the case, we?re not ruling out a dip below $25 a barrel but, at some point, we?ll be looking for oil to reverse course,? explained Gordon Li-Chao, chief economist at Fox Capital Partners.

The Shenzhen, China-based investment house isn?t isolated in its prediction for higher prices. Oil cartel, OPEC, said over the weekend that it believed oil prices would recover in the second half of 2016. It also warned its high-cost shale oil rivals in the United States that low prices would eventually force them to reduce output as even the most efficient of them could find the price of a barrel won?t cover the cost of its production.

Fox Capital Partners said it would making a number of new recommendations focused on more efficient oil sector companies in due course.

?A lot of companies have slashed costs, trimmed the fat and are more likely to be ready to profit when prices recover,? concluded Li-Chao.
About Fox Capital Partners
Fox Capital Partners is a successful, independent investment management practice established in Shenzhen City, China and headquartered in Shenzhen. Our highly-qualified professionals advise on a wide array of wealth accrual, preservation and portfolio management solutions aimed at affluent individuals and families in Asia and elsewhere.

Company :-Fox Capital Partners

User :- Joey Finch

Email :-pr@foxcapitalpartners.com

Phone :-85258-08690-9

Mobile:- 85258-086909

Url :- http://www.foxcapitalpartners.com






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