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US rig count suggests recovery

US rig numbers have grown for the first-time since last August, suggesting that the global oil sector may be turning a corner, but while battle-hardened old timers might be more cautious, fearing the recovery is a blip fuelled by short-term global supply disruptions, traders are already speculating on a recovery of $US100 per barrel oil.

Haydn Black
US rig count suggests recovery

Investors are in the market buying contracts that will only pay out if crude rises above $100/bbl over the next four years — a clear sign some believe today's bust is sowing the seeds of the next boom....

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