Gushing higher

The ongoing rally in the oil price through a two-year high of $60 a barrel for Brent crude has been making the headlines, with the price of black gold gushing up a third since early summer and doubling from the multi-year lows at the start of 2016. However, it’s worth putting the move into some perspective as the oil price is still only at half the $120 high water mark of June 2014, after which it subsequently lost three-quarters of its value over the next 18 months.

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