2 May 2016
Oil hitting new highs on lesser U.S. output - BBH
Analysts at Brown Brothers Harriman noted that the June light sweet oil futures contract rose to new highs since December.
Key Quotes:
"It rallied nearly 6% last week, its fourth successive weekly advance. The June contract has closed lower only two of the past ten weeks. "
"The move above $45 has increased the talk of a move to $50 a barrel."
"US output has fallen for seven weeks. Market participants seem to be giving this more consideration than inventory growth."
Key Quotes:
"It rallied nearly 6% last week, its fourth successive weekly advance. The June contract has closed lower only two of the past ten weeks. "
"The move above $45 has increased the talk of a move to $50 a barrel."
"US output has fallen for seven weeks. Market participants seem to be giving this more consideration than inventory growth."