Oil jumps 3 pct again overnight helped by short-covering...

• Oil jumps 3 pct again overnight helped by short-covering

Awesome!!!

Best part is what the old legend Alan Greenspan is saying (ps I cant believe that old dude is still alive)

"Greenspan sees oil trading in a range of about $40 to $50 a barrel over the next couple of years. A $50 price would be high enough to encourage new shale oil production in the U.S., he said."

Interesting thing is AKK are pursuing production whilst oil is currently at $42 demonstrating they can do it profitabley at prices even lower than Greenspan's assumptions.

http://www.bloomberg.com/news/artic...s-oil-prices-have-probably-bottomed-out-at-40