Wednesday, March 09, 2016

Guest Post: And Now Another Oil Hangover

Oil rally spiked: What's making crude prices drop after galloping over the $40 hump

After teetering around sub-US$30 per barrel since the start of the year, Brent crude prices have galloped over the US$40 hump, raising hopes of a sustained rally. But markets are pulling back once again after Goldman Sachs, an influential oil soothsayer, poured cold water over the rally, citing continued oversupply. "Only a real physical deficit can…