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#SaxoStrats - USD 55.00 a potential 'magnet' for WTI and here's why

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June 09, 2015 #saxostrats, crude, crude oil, crude oil livya, crude oil price, crude oil prices, crude price, crude prices, crude spread, crudeoil, crudeoilrally, cruderally, crudo, dollar, oil, oil 100 price, oil and gas, oil and gas engineer, oil asia, oil barrier, oil bounce, oil cargo, oil commodities, oil companies, oil company, oil consumer, oil demand, oil down, oil drop, oil egypt, oil exploration, oil gains, oil grilling, oil industry, oil inventories, oil iran, oil levels, oil libya, oil market, oil markets, oil news, oil outlook, oil price, oil prices, oil producers, oil production, oil range, oil refinery, oil services sector, oil shutdown, oil spread, oil stockpiles, oil stocks, oil supplies, oil supplies threatened, oil supply, oil trading, oil us shutdown, oil wealth, oilsupply, ole hansen, opec, opec intervention, opec meeting, opec oil price, opec price, opportunities, optimism, options, options markets, put, put option, puts, saxo bank, saxo tv, saxostrats, trade idea, tradingfloor.com, wti, wti 50 a barrel, wti and oil, wti brent, wti brent spread, wti crude, wti crude oil, wti export russia, wti keystone, wti price, wti russia, wti russia us, wti supply, wti ukraine, wti us, wti vs brent, wticrude, wtiwti
Saxo Bank's Head of Commodity Strategy Ole Hansen outlines his latest #SaxoStrat. Following OPEC's decision not to cut production levels, the WTI price could continue to fall below USD 60.00 which has been the key level in the range for the last two months. With added supply from Iraq, and possibly Iran, Ole explains why he's using the USD 56.00 put option to trade the fall in price he expects, with the USD 55.00 level potentially becoming a "magnet" in the market.