Trader’s Timeout: Oil Prices Push Higher Despite Repeated Warnings
Posted: Tue May 03, 2016 7:53 am
This article was written by Evdokia Pitsillidou, who is a Risk Management Associate at easyMarkets. She specialises in commodities, options and currencies.
US oil futures have rebounded nearly 70% from their mid-February lows, but major banks warn the latest rally has been drastically overdone, suggesting that the market could experience a renewed slump in the short-term.
Since bottoming near $26 a barrel on February 12, US oil futures have put together a massive rally. The West Texas Intermediate (WTI) benchmark for US crude futures set multiple yearly highs in April, as investors continued to rally ... (read more)