Crude Broke Above Recent Trading Range as EIA Upgraded Demand Outlook

Crude oil jumped amidst signs of improvements in the fundamentals. The DOE/EIA raised its global oil demand estimates for 2015 and 2016. It also forecast that total US crude oil production declined to "decrease through mid-2016 before growth resumes late in 2016". This forecast appears inline with the recent decline in the number of oil rigs.

from Oil N' Gold Focus http://ift.tt/1OXlJnb