The price of U.S. crude oil closed up 33 cents per barrel last week, providing temporary relief to oil investors who had endured seven consecutive weeks of falling prices.
During that stretch, the price of crude oil has fallen about 30 percent, and many are predicting that the fall is not yet over.
Cause For The Pause
The reason that crude oil took a break from its nosedive is likely a pair of encouraging reports that were released last week.
One report by the International Energy Agency (IEA) provided the first indication that low oil prices have begun to curtail oil production in certain areas of the globe, including North America.
The second ...
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