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Oil collapse - energy firms lose almost a trillion USD market cap

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Saxo Bank's Head of Commodity Strategy Ole Hansen and Head of Equity Strategy Peter Garnry look at the continuing collapse in oil prices and the trickle down effect into all asset classes. Almost a trillion USD has now been wiped off the market cap value of energy firms globally; caused by the price dropping by 37% this year. Worst hit are deep sea drilling firms with Seadrill suspending dividend payments and seeing its share price fall by around 50% since June 2014 for example. 

Ole Hansen answers the question how low can the price go? There's already some industry speculation suggesting oil prices are on course to fall to around 30 USD per barrel. Peter Garnry assesses the winners with consumer confidence figures rising and taking into account the calculation that a 20 USD fall in the price on oil equals a 2% rise in world GDP.