Why Oil Won’t Trade Above $100 This Year ...Middle East

OILPRICE - Economy
Why Oil Won’t Trade Above $100 This Year
source : OILPRICE ( Middle East ) () 17
After an initial dip, the oil price rally has been a steady grind upwards in the current year, with the last 12 trading days seeing 10 days of higher intraday highs and 11 days of higher intraday lows. Brent is currently trading at $87.50 per barrel (as of Jan 26 at 12:24p.m. EST)--more than $10 from this year’s low. And now commodity analysts at Standard Chartered are saying that positive speculative sentiment in the oil markets can support prices above $90/bbl. According to the experts, their proprietary crude oil money-manager positioning…

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