Brent almost $68 per barrel, can it hold?

How long do you think the current price spike will hold? Prices are up largely on negative news such as Forties (resolved), Iran unrest, and Libya problems.. but they are at least supported by OPEC's production cuts efforts. How long do you think oil can sit at the current levels before correcting again downward?

 

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Libya's problems are resolved as well, and its central bank is now saying its oil revenues tripled in 2017. I'm sure there will be another roadblock sometime soon because it's too unstable. So we can always count on Libya here and there to keep supply down :) Iran and general Middle East unrest help just to stoke geopolitical fears. I think prices might sit tight for a bit longer on sentiment (fear). 

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Not only can it hold but it hit $70 today for the first time in three years ... right now it's sitting at $69.80

courtesy of OP:

Screen Shot 2018-01-11 at 12.52.29 PM.png

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Nice climb I must admit ...

 

Screen Shot 2018-01-11 at 12.53.17 PM.png

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