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1. 96 cents.
2. Due to concerns about economies of China and Greece there is negative buyer sentiment in short term. This is making demand for oil less. In longer run since China is a major consumer it's slowdown will decrease oil demand.
3. If there is concerns about Iran and US relation it will make sense for US to weaken Iran by keeping oil prices down by keeping it's own production levels high even though it hurts it's oil companies.
4. No I don't think so that oil will be 75$ dollars in 2016 since geo-economic environment involving this price decline are has not changed and are not visible in a year or so. Only way it can happen is by creation of new demand from countries like India or in near future there is some concrete steps on Iran-US nuclear deal.Please let me know if you need any clarification. I'm always happy to answer your questions.
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When posting your discussion response, make sure that you answer the following questions and provide a link of a site that supports what you have provided for your discussion response. If you do not add a link along with your discussion response you will receive half of the credit for the discussion assignment.
How much did crude oil price drop on Monday?
How would concerns about China and Greece contribute to this decline?
How would concerns about the United States and Iran contribute to this decline?
Do you agree with Dimitry Dayen, senior research analyst at ClearBridge Investments, who believes that "sub $50-$55 oil is not going to be sustainable" and that oil will hit $75 in 2016? Why or why not?
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