Crude Oil Traded Above $62 A Barrel, Fueled By Geopolitical Threats To Oil Supplies

Crude Oil traded above $62 a barrel, fueled by geopolitical threats to oil supplies. Though the US has built up strong inventories, traders fear possible cuts in production from exporters could potentially wipe-out any surplus. Attacks in Nigeria have successfully diminished output by 20% since February 18th, and new attacks are planned according to a warning issued by the rebels responsible. The Saudis thwarted an attempt made on their soil and have since stepped-up security. Read More....