Oil Prices Higher, Up 19% Year-over-year

From Bloomberg: Crude Oil Prices Are Up 49%, and It's Not All Thanks to OPEC The bottom line: A 49 percent surge in benchmark North American crude futures since late June, putting prices at a three-year high. ... "We expect inventories are going to build this year -- slightly," said Michael Cohen, Barclays Head of Oil Markets Research, in an interview on Bloomberg TV. "You're going to see a bunch of new crude supply coming on to the market this year from the U.S. So all in all, on a balanced basis, we don't see the kind of shortage to bring us to $80 for a sustainable basis." Click on graph......(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web http://ift.tt/2DkAm2j
via IFTTT