19.05.2016 - Five things to watch for as oil nears $50 a barrel
There are key factors that can fuel crude beyond $50 or stall the near 80% price rally. As the price of crude oil nears $50 a barrel for the first time this year, traders are split over whether the near 80 per cent rally since prices bottomed in January can keep going. Here are five things to watch that could dictate the next move in the price of Brent crude, currently trading near $49 a barrel, and US benchmark West Texas Intermediate which is more than $48. 1. Nigeria and other troubled Opec producers: The latest leg up in prices comes as output in what was Africa’s largest producer has fallen to the lowest level in more than 20 years...............................................Full Article: Source
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