Oil back in bull market but rally could already be fizzling out
Posted on August 22, 2016 at 1:16 pm GMTOil prices have seen an impressive rally of over 20% ever since reports of fresh efforts to revive talks for a production freeze started emerging in early August. The latest rally reversed most of the declines since June when prices briefly broke above $50 a barrel. The six-month long uptrend from January to June that took prices to near one-year highs was partly driven by supply disruptions and declining US output, and partly by the failed negotiations in April to [..]