| Crude market sentiments appear upbeat, despite the Doha debacle. Speculators are back in play, reports are asserting, betting that the worst is over and the glut may be easing. Strong gasoline consumption in the United States, increasing signs of declining production around the world and oilfield outages have underpinned a return to investment in the sector, traders are now insisting.
Oil prices were higher Friday as investors continued to buy back into commodities, betting oversupplied markets will ease later this year, Wall Street Journal said, quoting brokers and analysts. The rally now has oil up oil about 65% in two months, confounding all those who expected it to lose steam after OPEC failed to reach a deal to cap production...............................................Full Article: Source
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