West Texas Intermediate, or U.S. crude, lost 21 percent in November, tumbling to its lowest level in a year and logging its worst performance since October 2008.
Commodities: Alternative Investing
JP Morgan has cut its outlook for oil, predicting that Brent crude prices will average $73 a barrel in 2019
Scott Darling, head of Asia-Pacific oil and gas at JP Morgan told CNBC that the investment bank recently revised its outlook in part due to North American supply ramping up in the second half of next year. JP Morgan expects the price of Brent, the international benchmark for oil, to go toward $64 in 2020.
Gold is Doing Something it Hasn’t Done in Nearly 30 Years
Gold’s on track for its longest losing streak in almost 30 years, but Jeff Kilburg, a CNBC “Futures Now” trader, says the yellow metal could be due for a comeback.