Source : Investing.com
Oil futures took a breather Tuesday, after hitting
2016 highs as the market focused on supply disruptions that prompted
long-time bear Goldman Sachs (NYSE:GS) to issue a bullish assessment on near-term prices.
U.S. crude futures were at $47.89 a barrel at 0655 ET, after hitting highs of $48.42 earlier, the strongest level since October.
Brent crude futures slid 0.05 cents or 0.10% to $48.92 a barrel, after rising as high as $49.47 earlier, the most since early November.
Crude oil prices have rallied for most of the past two weeks due to a
combination of Nigerian, Venezuelan and other outages, declining U.S.
output and curtailments of Canadian crude after fires in Alberta's oil
sands region.
