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Brent Oil to Rebound After ‘Excessive’ Plunge, Commerzbank Says

Sept. 20 (Bloomberg) -- Brent crude is set to rebound after an “excessive” 8 percent plunge this week, according to Commerzbank AG.

“We expect a counter-movement in the next few days,” Carsten Fritsch, an analyst based in Frankfurt, said in a report. The drop in Brent, trading at $107 a barrel in London today, appears exaggerated “given that other economic barometers such as equity markets and copper have defended their gains over the same period.”

To contact the reporter on this story: Grant Smith in London at gsmith52@bloomberg.net

To contact the editor responsible for this story: Raj Rajendran at rrajendran4@bloomberg.net

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