Brent rises above $40, but analysts skeptical of rally

HOUSTON – Brent crude edged up over $40 a barrel on Monday, reaching its highest point since mid-December amid expectations that U.S. oil production will fall and hope that an OPEC production freeze will lead to a cut later.

But some market forces behind the rally are likely overblown, analysts say, and if crude prices continue to rise, it could prompt U.S. oil drillers to hedge their production and curb an expected decline in their output this year.

http://fuelfix.com/blog/2016/03/07/oil-prices-rise-above-40-but-analysts-skeptical-of-rally/