Higher prices: A file picture showing oil platforms at the Bouri Oil Field off the coast of Libya. Higher crude oil prices have added zest to Bursa Malaysia and given the government better flexibility in managing its finances. — Reuters
NOT since May 5, 2015 has oil reached the levels that we are seeing today. At US$68 per barrel, Brent crude is testing some key technical and non-technical matters.
From mid-2014, Brent started to slide, reaching the US$55-per-barrel level in less than a year from a high of US$115 per barrel. For several weeks, the price retraced to the US$68 level, something that then brought optimism to major oil producers.
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