 Good morning to CMC Espresso. Oil prices started stronger into the week as wildfires in Canada threatened oil production there, but later on Monday prices were starting to retreat. It caught markets by surprise that the Saudi oil minister Al Naimi had to go. His successor the crown prince Bin Sultan is seen by many commentators as a bearish factor for oil prices as he is seen as a strong defender of the notion that markets should set the price of oil and that this is not the job of countries or any cartel. In any case, it has become quieter in the last days when it comes to talks or rumors about any freeze talks in oil production. Maybe the Russians and the Saudis have realized that they will not be able to defend their market share by forcing Iran to the negotiation table. Iran just wasn't willing to join this game and Tehran was regularly just joking about what Moscow and Riyadh were trying. Bank of America thinks the price of a barrel of Brent crude could go down as low as $35 in the coming days or weeks. They argue that the market profile there would be very interesting. The market profile shows at which prices there has been the most trading activity in the past as a cumulated statistic or in the case of Brent futures, the most open interest. Based on this, analysis of the market profile, Brent prices could go down to $35 in the coming days or weeks. That's what the Bank of America wrote in a research report yesterday. Meanwhile, Deutsche Bank thinks that the European central bank will have two meaningfully lower rates even further into the negative as only by doing this would there would be a positive effect on inflation and growth in the eurozone. So while the bank publicly has been one of the loudest critics of the policy of the ECB, the internal research departments of the bank claim that things are just going to go to be much worse going forward. They say that the economic cycle in general is in its later stages. Wages are growing, but companies are having less pricing power than they did in the past. The result of this is that they are not really able to forward those cost increases to their end customers so profits are starting to twindle as we can witness again in the latest earnings report figures for the first quarter. Meanwhile, the famous bond managers Bill Cross and Mohamed Ellerian think that the rate hikes in the U.S. are not off the table. They still think that there will be two rate hikes by the Federal Reserve this year and this by itself would be a major surprise for the markets which only calculate with an 8% chance that there will be a rate hike at the Fed June meeting. So going forward it seems that one thing will prevail in this market environment. There will be uncertainty and so there will be volatility. This is an El Dorado for active investors like the CFD traders from CMC markets.