Weekly Fundamentals - Energy's Rally Only Temporary as OPEC Continues to Raise Output

Energy prices extended rally last week, amidst hopes of tighter demand/supply balance with OPEC seeking to lower output. The front-month contract for WTI crude oil jumped +6.44% to settle at 44.49, highest close in 4 weeks, while the Brent crude contract accelerated the rally, gaining +6.1% (previous week's gain +4.26%) to settle at 46.97.

from Oil N' Gold Focus http://www.oilngold.com/ong-focus/insights/weekly-fundamentals-energys-rally-only-temporary-as-opec-continues-to-raise-output-2016081433421/