Mobius: Oil's fall is purely sentimental

From cnbc.com

Investment guru Mark Mobius has dismissed claims that an oversupply of crude is behind oil's sell-off, and believes the end of the broader commodities rout is in sight. "If you look at the supply and demand growth of oil in the last 20 years, roughly it's been 1 percent growth each year. But within each year, the [price] range has been plus/minus 5 percent," he told CNBC on Tuesday. "The price is purely sentimental. It has no real relationship to long-term supply and demand." Brent crude rebounded in Asian trade on Tuesday after losing 5 percent in the previous session, but still traded below $50 per barrel— its ... (full story)