Can $60 Oil Last?

Brent is back at $60 for the first time in more than two years, but the big question is: Can crude hold onto its gains? Oil prices firmed up in recent weeks, but held back from key resistance points—roughly $60 per barrel for Brent, and around $55 per barrel for WTI. Oil traders were reluctant to test the upper limits of the “shale band” at $60, a threshold that has repeatedly forced traders to liquidate their bullish bets or get burned. Top analysts argue that it would take something really significant to allow oil to break above…

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