RBC Sees Oil Prices Grinding Higher — Market Talk

0828 GMT The oil market has found itself stuck in a bear trap in recent weeks, say analysts at RBC Capital Markets who see prices rising this year and next. While little has actually changed on the fundamental front, there has been a deluge of headlines suggesting that a tsunami of crude – including from Nigeria, Libya and the U.S. – is set to hit the market, RBC says. But it adds that the acute downside risks to the oil market are likely already mostly priced in. “Oil prices will grind higher through the balance of this year and into next,” RBC says. Brent is down 1.2% at $44.43 a barrel. (georgi.kantchev[a]wsj.com)

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