Oil Prices: Next Stop $85 a Barrel?
What a difference some new data makes. A few months ago, analysts were throwing in the towel on the oil market, with several slashing their price targets on crude and downgrading oil stocks. However, thanks to a string of bullish data, oil prices have quietly risen 20% from the most recent low, touching off a new bull market.
This reversal seems to be changing the mood of the oil market. Instead of focusing on the negatives that could pull crude lower, analysts are increasingly turning their attention to the catalysts that could fuel an even greater run. In fact, one recently made the case that crude might go as high as $80 to $85 a barrel. While a lot would have to go right for that to happen (or wrong, if you're a consumer), it's not as far-fetched as it might seem.
Image source: Getty Images.
Source: Fool.com
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