Two different Wall Street firms have new reports out explaining why they believe that oil prices could take a turn for the worse in the near future.

According to Bank of America analyst Francisco Blanch, OPEC is not backing down in the global oil pricing war, and a flood of Iranian oil is about to hit the market at a time when China is in the middle of a currency depreciation. These factors coupled with a wormer-than-normal winter in both the U.S. and Europe and growing crude inventories have created a perfect storm for oil bears.

“As we argued in a recent piece, a combination of factors could still drive…

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