U.S. Shale Could Bring Bearishness Back To Markets

Brent oil has breached the technical and psychological barrier
of $60, while WTI inched up to $54. The bulls are relishing in the
excitement of rising prices. But there’s one pressing question: Is
this rally sustainable? The bulls might have to proceed with
caution. Recent figures indicate a build-up of 856,000 barrels in
crude inventories, with U.S production surging by 1.1 million bpd
last week, to a total of 9.5 million barrels per day (bpd). Despite
rising production, Baker and Hughes reported a fall in rig count by
4. The total rig count…

Brent oil has breached the technical and psychological barrier
of $60, while WTI inched up to $54. The bulls are relishing in the
excitement of rising prices. But there’s one pressing question: Is
this rally sustainable? The bulls might have to proceed with
caution. Recent figures indicate a build-up of 856,000 barrels in
crude inventories, with U.S production surging by 1.1 million bpd
last week, to a total of 9.5 million barrels per day (bpd). Despite
rising production, Baker and Hughes reported a fall in rig count by
4. The total rig count…