Has oil finally bottomed?
From cnbc.com
Oil prices have rallied off their post-crisis lows, in a move that may mark the bottom of the rout as producers' cutbacks begin pinching supply, some analysts said. "We've seen the lows for the year," Daniel Morgan, global commodity analyst at UBS, told CNBC, citing producers' steps to decrease counts and aggressively cut capital spending. "Financially, the oil price just got sold off too aggressively and so was poised for a comeback." He doesn't believe Brent at around $59 a barrel is "appropriate" on a longer-term view, adding it's still an attractive entry point at current levels. U.S. oil climbed as high as ...
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