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Brent crude extends rally

Feb. 17, 2015 3:50 AM ETUCO, USO, OIL-OLD, DBO, TWTI, USL, DTO, OLO-OLD, SCO, DNO, BNO, UWTI, DWTI, SZOXF, OILBy: Yoel Minkoff, SA News Editor10 Comments
  • Brent crude prices extended their rally beyond $62 per barrel today as the IEA warned of supply risks in the Middle East, while other analysts noted the recent price increases may be overblown.
  • The rise of ISIS presents a major challenge for the investment necessary to prevent an oil shortage in the next decade, announced the IEA's top economist, Fatih Birol.
  • With Brent prices outperforming U.S. contracts the spread between the two benchmarks has risen to almost $9 per barrel, the highest level since August last year.
  • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM

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