Is Oil Set to Surge Once More?

The media has groaned under the weight of supposedly good news. Oil is falling in price. But then it stopped falling and once again jumped up past $60. Are we now seeing a volatile pattern emerging for the year?

Because unlike the bear market of late-2005 which could not break far below $55, this new bear market could not breach the $60 barrier. It did manage to creep down past $60 of course, but only for a few days. Even as the newspapers trumpeted “slumping” prices it sneaked back up.

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