Oil And Gas CDS Spreads Spiked Yesterday (S&P Capital IQ)

According to S&P Capital IQ, oil and gas credit default swap spreads rose 1.54% on average yesterday and they spiked relative to other sectors.

Source: S&P Capital IQ

According to Reuters (via Azeri-Press), JPMorgan thinks Brent crude oil could fall to $65 by early January, which could put even more pressure on the oil and gas sector.

"Assuming no agreement is reached between the OPEC members, Brent prices will likely fall toward $70 per barrel in December, and could sink to $65 per barrel by early January, the analysts said."

Related post at NewsMovingMarkets.com via Financial Post: Plunging Oil Price Triggers Warning Of Defaults And 'Distress' In The Energy Sector

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