The Upside For Oil Prices Is Limited ...Middle East

OILPRICE - Economy
The Upside For Oil Prices Is Limited
source : OILPRICE ( Middle East ) () 36
After a sharp drop in the first trading days of the new year, oil prices are climbing back up but the upside potential remains limited in light of the latest economic news updates and a warmer-than-usual winter in the northern hemisphere. After crashing from over $82 per barrel to some $78, Brent crude is today on the mend, inching closer to $79 and West Texas Intermediate is moving to $74. However, the economic outlook is quite bearish. First, earlier this week, the head of the International Monetary Fund said she expected a third of the world’s…

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