23.08.2016 - Oil prices: Crude will be stuck in a back-and-forth market, analyst says
Traders have bid up oil futures on speculation that producers will take measures to prop up crude prices, but any such deal might do little to quickly bring supply and demand into balance, ClearView Energy Partners Managing Director Jacques Rousseau said. As a result, crude prices could continue swinging back and forth, he said. A rally that lifted benchmarks about 16 percent and pushed Brent above $50 a barrel during the last seven sessions lost steam on Monday as market watchers including Morgan Stanley said the gains were overdone. The bank said it was "highly unlikely" OPEC members and Russia would be able to overcome the many headwinds to striking a deal...............................................Full Article: Source
Print