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Commodities Briefing - Categorized | Oil, Price Watch more

An Oil-Price Recovery? We’re Not There Yet

Posted on 15 April 2016

Oil prices have increased 60% since late January. Is this an oil-price recovery? Two previous price rallies ended badly because they had little basis in market-balance fundamentals. The current rally will probably fail for the same reason.
Although oil prices reached the highest levels so far in 2016 during the past few days, the global over-supply of oil worsened in March. EIA data released this week shows that the net surplus (supply minus consumption) increased to 1.45 million barrels per day. Compared to February, the surplus increased 270,000 barrels per day. That’s a bad sign for the durable price recovery that some believe is already underway………………………………………..Full Article: Source


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VRS - who has written 48800 posts on Opalesque Commodities Briefing.


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