"Frothy" Oil Prices. Time for a Correction.

"Sometimes people forget that actually, it was not that long ago we were down at $28 a barrel … I think oil prices today feel a bit frothy," Brian Gilvary, CFO at BP, told CNBC's "Squawk Box Europe" Tuesday.

"Frothy" is a very good word. The question is: are prices frothy enough?

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