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Commodities Briefing - Categorized | Market Pulse, Oil, Price Watch more

Oil market ‘not out of the woods yet’

Posted on 08 May 2015

The price of oil has made minor gains over the past few weeks or so but analysts tell CNBC it’s not yet time to celebrate. Crude prices have made steady gains this spring, rising nearly every week since mid-March. Brent is up nearly 25 percent since March 16, with WTI jumping 35 percent over the same period. Brent was edging near $68 as of 14:00 GMT Thursday, with WTI up near $60.
But some analysts say the recovery won’t hold. “We don’t think we’re out of the woods yet when it comes to oil markets improving,” Barclays oil analyst Miswin Mahesh told Worldwide Exchange Thursday………………………………………..Full Article: Source


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