Oil Resurrection Sets Stage for Another OPEC-Shale Clash in 2018
- Cold-weather snap pushes WTI to highest level since mid-2015
- WTI, Brent up more than 12% this year; set for 2nd annual gain
This article is for subscribers only.
Oil continued its revival from the biggest crash in a generation, with prices set for a second annual gain after a year marked by hurricanes, Middle East conflict and the tussle between OPEC and U.S. shale.
Futures are up more than 12 percent in 2017, having entered a bull market in September. In 2018, investors will watch whether rising prices trigger a new flood of U.S. output.