Analysts Say the Rally Is Likely to Be Temporary
The opening of a pipeline to ease a supply bottleneck at a key storage hub has boosted U.S. oil prices, but analysts say the rally is likely to be temporary.
Light, sweet crude for March delivery rose to $96.64 a barrel Friday on the New York Mercantile Exchange, ending the week with a 2.2% gain. It was the biggest weekly gain for U.S. oil futures in more than a month.
Crude began flowing through the southern leg of…