Commenting on the recent news on sliding Oil prices, as reported in City AM, Mihir Kapadia, CEO of Sun Global Investments said:
“Oil prices were steady on Friday after a week which saw the markets decline due to supply increases and the economic slowdown. It is these fears which have hampered the oil markets for a number of weeks, declining by 20% since last month’s peaks, causing many analysts to consider oil to have entered a bear market. Both Brent crude and WTI were firm by end of trading yesterday and should remain consistent by end of play on Friday. However, with rising supply still a major concern and the current volatility in the economy, markets are under increased pressure with no real signs of easing.”
His comment was featured in City AM Online.