The price of oil has been holding up nicely in recent weeks after losing almost half of its value in the second half of July 2014.
On Tuesday alone, crude oil rallied about 3% following positive jobs data Tuesday from the Labor Department, and another report from the U.S. Energy Information Administration (EIA) raising forecasts for U.S. and global oil demand while lowering forecasts for crude oil production growth in the U.S. Brent crude for May delivery is trading at around $59 a barrel.
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