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Crude prices climbed in mid-April to their highest level this year, and gasoline prices followed suit, but industry analysts say oil markets remain saturated and downward pressure on prices will continue well into 2016.

“It’s a roller coaster,” said Daniel Fine, associate director at the New Mexico Institute for Mining and Technology’s Center for Energy Policy. “We’re just not seeing enough of a decline in oil output to stabilize prices, at least for the rest of 2015.”

And it’s unclear when in 2016 — or by how much — prices might rebound.

“The question now is whether price volatility will resemble a ‘V’ with a sharp decline followed by a sharp rebound, an ‘L’ that reflects a price plummet and then a flatline, or a ‘W’ with prices continually going up and down,” Royola Dougher, senior economic adviser for the American Petroleum Association, told the Journal.

Tags: DanielFine, Geopolitics, Haynesville, NewMexico, NewOrleans, OilandGas, Shale

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Natural Gas sure ended up in a L shape with a downward tilt.  For oil since 2008 you could say we are at the end of a W formation with a long duration middle point, with serious questions about how high the final point of the W get.


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