| Oil’s climb above $45 a barrel is reassuring influential figures from BP PLC to the International Energy Agency that the industry finally is recovering from the worst slump in a generation. Others, though, say the market is about to fall into the same trap as last year.
There’s a sense of déjà vu at Commerzbank AG, BNP Paribas SA and UBS Group AG, which say crude’s gain of about 70 percent from a 12-year low in January resembles the recovery that took hold this time last year — only to sputter out by May as the supply glut endured. Prices will sink back toward $30 a barrel in the coming weeks, BNP and UBS warn...............................................Full Article: Source
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