Can $60 Oil Last?

Brent is back at $60 for the first time in more than two
years, but the big question is: Can crude hold onto its gains? Oil
prices firmed up in recent weeks, but held back from key resistance
points—roughly $60 per barrel for Brent, and around $55 per barrel
for WTI. Oil traders were reluctant to test the upper limits of the
“shale band” at $60, a threshold that has repeatedly forced traders
to liquidate their bullish bets or get burned. Top analysts argue
that it would take something really significant to allow oil to
break above…

Brent is back at $60 for the first time in more than two
years, but the big question is: Can crude hold onto its gains? Oil
prices firmed up in recent weeks, but held back from key resistance
points—roughly $60 per barrel for Brent, and around $55 per barrel
for WTI. Oil traders were reluctant to test the upper limits of the
“shale band” at $60, a threshold that has repeatedly forced traders
to liquidate their bullish bets or get burned. Top analysts argue
that it would take something really significant to allow oil to
break above…