WTI surges above $90.00 for the first time since October 2014 By Frank_Macro Oil WTI OPEC
than $2.0, which would mark the best one-day performance in three weeks. No specific one fundamental catalyst can be singled out as behind the recent surge in prices that has seen WTi rebound more than $3.0 from intra-day lows under $87.00. but analysts/market commentators have been discussing a cocktail of bullish factors in recent days that have been supporting the bullish mood in oil markets.
The group agreed on Wednesday to stick to its policy of lifting output quotas by 400K barrels per day each month, disappointing some who expected a larger hike to output quotas.
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