Can WTI Break Out Of The High $40s?

The most likely case is that WTI will remain stuck in the
upper $40 to lower $50 range through December 2017. Comparative
inventories have fallen dramatically since mid-February yet oil
prices languish in the mid-to-upper $40 range. But what will it
take for oil prices to break out of the $45 to $55 range? WTI
prices increased from below $45 to almost $55 per barrel based on
expectation that OPEC cuts would quickly balance international oil
markets and result in near-term higher oil prices. While that
expectation lasted, prices remained near $55…

The most likely case is that WTI will remain stuck in the
upper $40 to lower $50 range through December 2017. Comparative
inventories have fallen dramatically since mid-February yet oil
prices languish in the mid-to-upper $40 range. But what will it
take for oil prices to break out of the $45 to $55 range? WTI
prices increased from below $45 to almost $55 per barrel based on
expectation that OPEC cuts would quickly balance international oil
markets and result in near-term higher oil prices. While that
expectation lasted, prices remained near $55…