If it can stay above $60 by this time next month after the OPEC meeting things should look good for oil. There's still weak supply and demand and Libya closing one of their ports has helped the price rise over the last few days.
Oil is always only one panic, one hint of a war, or one political stroke away from shooting up. Our entire modern society is addicted to it and reliant upon ensuring that it doesn't have a huge downside. If it drops again I'm buying even more.
It's not what it was though, a lot of the new growth came from new Chinese drivers and trucking which was going crazy for years and is now evening out. I'm a little surprised that the problems in Yemen haven't had more impact It's essentially the ultimate worst case scenario for oil everyone has always talked about, a war between Saudi and Iran faught around the Gulf. I suppose the markets have been pushed around too many times on news like that which never turned out to actuality affect supply. The problem with buying oil companies at the moment is that nothing has fundamentally changed, absolutely nothing at the moment stops opec doing this this over again.
