Houston x 100
"The oil market should bottom sometime between the end of Q1 and beginning of Q2 at a significantly lower price level in the $40 range – after which markets should start to balance, first with an end to inventory builds and later on with a period of sustained inventory draws."It's impossible to call a bottom point, which could, as a result of oversupply and the economics of storage, fall well below $40 a barrel for WTI, perhaps as low as the $20 range for a while."