Crude oil prices, which have rattled petrostates by plunging 60 percent from their summer 2014 highs, are suddenly leaping back up. Prices for benchmark crudes have jumped about 15 percent in the last week, and they continued to do so early Tuesday, Feb. 3, with Brent crude futures closing in on $58 a barrel in London.
It appears that oil prices finally found their floor, after months in which analysts raced to slash oil-price forecasts and worried oil-producing states vied with each other to paint ever-more-dire pictures of plunging crude. The uptick promises some measure of relief for the countries, from …read more
Source: Foreign Policy
