Crude oil prices have stabilized Tuesday but further gains are likely as the markets reflect on forces loyal to Libyan General Khalifa Haftar continuing to advance on Tripoli, where the United Nations-backed Government is based. This Libyan unrest is just the latest factor boosting prices, including efforts by Saudi Arabia and its allies to restrict output and US sanctions on Iran and Venezuela. Meanwhile, from a technical perspective, the price of US crude has broken above an upward-sloping trendline joining this year’s higher highs, and previous resistance at that trendline could now turn into support.The fly in ... (full story)