Crude oil recovered slightly on Tuesday after a steep selloff on Monday that saw prices plunge to levels not seen since the global recession in 2009.  Prices rose modestly on Tuesday after falling by more than 4% on Monday. Brent crude for delivery in January was up 24 cents at $66.42 a barrel on ICE Futures Europe. In electronic trading on the New York Mercantile Exchange light, sweet crude futures for January traded up 45 cents at $63.50.  “Over the past few days we’ve lost significant ground so a technical bounce back was to be expected,” said Harry Tchilinguirian, global head of commodity markets at BNP Paribas. “The bigger question is if it is going to maintain that and where the market is going to find a floor. We are forecasting that oil will trade within 60 and 65 dollars in the next six months.”  Oil prices have been in free fall since summer as robust global supply is outpacing tepid demand. Accelerating the decline was a decision in November by the Organization of the Petroleum Exporting Countries not to intervene to balance oil prices by cutting its production levels.  Driving the price down was a reversal of roles for the oil cartel, analysts say. “OPEC has always adjusted the amount of oil it produces but this time around it has decided to abdicate its historic role and let the market adjust itself,” Mr. Tchilinguirian said.

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