Oil prices are on the march higher, again. It has been a volatile few weeks, with prices rallying fifty percent off their low from February, when they hit $26.05. After surging to $41.50, they then promptly fell to $35.24. Forty dollars beckons again this week.
The focus of the market has turned to the upcoming meeting among OPEC producers and Russia, this Sunday, in Doha, Qatar. Market participants are increasingly of the belief that the low prices have produced enough collective suffering to generate common cause among this increasingly disparate group.