But the reversal from the high of $51 could just be a corrective fall of the recent uptrend

In January this year, when the deepening of its nearly two-year rout saw crude oil sink like a stone to below $30 a barrel, it was tough to imagine that a sharp recovery was around the corner. Forecasts of $20 or even $10 a barrel were being bandied around. After all, global demand remained tepid, the world was flush with oil, and key OPEC members Saudi Arabia and Iran were at loggerheads, eff...