Having been busy lately, I wasn't closely following news and events in the commodities market, but I now see all of a sudden WTI is over $60! What caused this sudden spike out of nowhere? 8% daily swings don't happen for nothing usually.
It's not a 8% daily swing, crude has been climbing up slowly but surely. The prices in the low $50's just weren't realistic, it was not a sustainable scenario. And still at $60 it isn't, needs to go a bit higher but there will be spikes downward along the way if the north american shale industry starts getting more active again.
