U.S. crude oil prices hit the lowest in 18 months in the last week of 2018, having slumped by nearly 40 percent from four-year highs hit in early October. In the first week of 2019, oil prices jumped, supported by rising equity markets, signs of a possible U.S.-China trade war thaw, and signs that OPEC and its largest producer Saudi Arabia are slashing oil production, possibly by more than they had pledged in early December. Some analysts now believe that oil prices, WTI in particular, may be primed for a new rally, due to technical indicators and to the supply and demand picture going forward. WTI Crude prices slumped to $42.50 this past Christmas Eve, but have rallied by 10 percent since then. The previous time when the U.S. benchmark hit that $42.50 low was in June 2017, after which prices rallied by 80 percent, Matt Maley, equity strategist […]