Oil prices have had a great run recently, gaining over 35 per cent from their early summer lows, recouping all of their year-to-date losses and reaching levels last seen in July 2015. This is good news for investors in the sector who have had a real roller-coaster ride over the past four years, with $105 per barrel highs and $26 per barrel lows before prices settled into a $45 to $55 per barrel range beginning May 2016.
However, the breakout this week above the $55 per barrel ceiling — oil topped US$57 on Monday — leaves many wondering if this current momentum is sustainable.
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