The oil price took off again last, for no apparent reason, up more than 6% to $59.21 as I speak. The WSJ reckons:
Oil prices rose on Thursday on several bullish factors, including a weak dollar, a contract expiration and warnings from one of the world’s biggest oil companies.
…Royal Dutch Shell PLC Chief Executive Ben van Beurden also warned of a rapid recovery in oil prices in the years to come if production projects get canceled. In prepared remarks he is expected to deliver later Thursday he said oil demand will outpace supply growth this year.