Is This It? Oil Market Sentiment Has Turned Positive

Although oil prices are no where near the levels most producers need, they have rallied almost 50% from early-February lows.In February, sentiment on Oilpro and (in the broader oil market as well) reached a nadir. In March, the feeling is much different - hope has emerged.This morning, oil is up about 2% as traders buy the IEA's bullish call over a bearish Goldman Sachs argument that this rally is premature and oil will move sharply lower in the days ahead.

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