Is The Oil Rally Now Set To Continue?

This week’s key data from the oil and gas industry shows that outages in Nigeria and Canada, as well as a weakening dollar, have seen oil prices move past the $50 mark, causing the rig count to increase by 9, the largest jump since late last year. (Click to enlarge) (Click to enlarge) (Click to enlarge)Chart of the Week (Click to enlarge)• A Union Pacific (NYSE: UNP) train carrying crude oil derailed in Oregon on June 3, the latest in a long line of derailments that have occurred in recent years. • However, derailments have slowed…

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Is The Oil Rally Now Set To Continue?

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