By Mable Buchanan In April, heartbroken energy investors watched as the price of oil collapsed, reaching a loss of more than 55% year to date.
Then, the market added insult to injury as the price of crude dropped below $0.
Today, the commodity trades for $24 per barrel.
Not long ago, it was valued at nearly three times that price.
Efforts on the part of OPEC, and Saudi Arabian production in particular, to flood the market with oil have been blamed for this drop in demand.
But on Wednesday, this notoriously volatile market began showing signs of life.
Saudi Aramco, Saudi Arabia’s state-run oil magnate, increased its crude prices …read more
