Jeremy Baker, commodity and alternative investment product manager at Vontobel, has warned the price of Brent crude could fall to $30 a barrel if OPEC's proposed deal to limit oil supply falls through.
With Brent crude trading at $46 a barrel (as at 9 November), this would mark a significant drop for the commodity, which briefly came under pressure last week following the unexpected result of Donald Trump winning the US Presidential Election, before rebounding. Vontobel's Baker: Trump victory would be positive for commodities Baker (pictured) said: "If there is no deal in November we could see prices drop to $30 a barrel in the short term, which is not sustainable and makes the situation for investors a lot harder." He added even if the oil price were to go as high as $50 a barre...
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