SaxoTV

Why trading oil is like 'catching a falling knife'

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Oil prices continue their decline this Wednesday with WTI just short of USD 80 / barrel. Saxo Bank's Head of Commodity Strategy, Ole Hansen, says we're seeing almost panicky trading and it's incredibly difficult to predict what's going to happen next with any sort of certainty.
He gives his opinion as to what's happening in the market and why we haven't seen any intervention yet from Saudi Arabia and OPEC. He looks at how the recent sell-off is affecting the US shale producers and why it might be the global capital markets which could force intervention.