Shale Oil & Gas Revolution

This could be the real reason for the spike in crude oil

shale-oil-and-gas-revolution
From Sober Look:
 
U.S. crude oil prices have been moving up for nearly two months now. There are a number of possible explanations for this strength in crude, including ongoing Mideast unrest, expectations of higher demand from China, and of course the QE-driven "risk-on" trade. 

 
MarketWatch: Those include improving economic data, rising Mideast tensions, changing U.S. oil market fundamentals — with greater oil-export capacity out of Cushing, Okla., and the closure of a New Jersey refinery — and an increasing number of speculative hedge-fund net “long” market positions, or bets that oil prices will rise, he said.
 
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