Oil Gains Over 4% Likely On Profit-Taking, Short Covering ...Middle East

While fundamentals took over from the war-risk premium this week, pummeling oil prices, Brent crude was gaining over 4% by midday Friday, but analysts told Bloomberg that there is little chance for oil to top $90 in the current market atmosphere.  At 1:49 p.m. ET on Friday, Brent crude was up 4.31% at $80.76, for a $3.34-per-barrel gain on the day. West Texas Intermediate (WTI) was up 4.06% at $75.86, for a $2.96 gain on the day.  In an interview with Bloomberg earlier in the day, Lipow Oil Associates president Andrew Lipow…

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