| Oil prices could consolidate around current levels this week, supported by expectations that the Federal Reserve won't slow its bond-buying program, according to CNBC's weekly sentiment survey, though some are not excluding an upside surprise and a return to triple-digit U.S. crude.
Strategists highlight the $98 a barrel level for U.S. crude futures – above the upper-end of the $90 to $97 trading range held since May 1 – as a critical level. A convincing move above $98 this week may foreshadow a return to $100, defying the weak fundamentals of high supply and soft demand, they say...............................................Full Article: Source |