We’re seeing a decent rebound in the markets on Friday as strong gains in oil provides a timely boost to what has been a rather gloomy week. While the gains are welcome, I’m not convinced at this stage that this is anything more than a dead cat bounce. The gains in oil are being driven by comments from UAE energy minister who claimed that OPEC are willing to discuss production cuts with other oil exporters, which could in theory drive a more sustainable rise in prices. The problem is this is not the first time we’ve had these kinds of reports and nothing has since materialised. We get a short-term boost followed by a ... (full story)