27.05.2016 - Oil Prices Poised to Hit Sweet Spot for Global Economy
Oil prices, which have been on a jagged rise to near $50 a barrel, are poised to hit a sweet spot for global growth, traders, economists and investors say. On Thursday oil prices rose above $50 a barrel for the first time since November as a combination of supply disruption and declines in U.S. oil inventories raised hopes the oversupplied market was inching toward a better balance. That puts crude back within a range between $50 and $60 in which almost everybody benefits, economists and investors say. In a so-called goldilocks scenario, oil is not too pricey for consumers and industry, which have benefited from cheap crude for almost two years. But it is priced well enough to help profits in the beleaguered oil industry...............................................Full Article: Source
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