24.03.2009 - Oil prices: This crude rally has legs–or does it?
From WSJ: So has oil definitely bottomed out? Crude oil futures in New York rose 3% to $53.79, their highest level since the end of November. And that comes a week after OPEC opted against further output cuts, a move plenty of people—including OPEC heavyweights—figured would send crude prices tumbling again. What’s behind the crude rally? A host of factors. OPEC didn’t announce additional cuts, but has shown unusual discipline in enforcing its existing production cuts.....Full Article: Source
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