Citi: Don’t trust bounce; oil could dip to $20 a barrel
The recent rebound in oil prices might be nothing more than a “head-fake,” and $20-a-barrel crude might still be in the cards due to an oil glut, says a Citigroup analyst.
“The recent rally in crude prices looks more like a head fake than a sustainable turning point,” Edward Morse, a commodities analyst at Citigroup, said in a client report today.
