Oil prices, which earlier Thursday broke through a key psychological level of $50 a barrel, are likely to continue recovering into next year as supplies tighten, but that recovery is still fragile and the path ahead is rocky, the chief executive of Premier Oil PMO 2.61 % PLC said. “We’re in a little bit of an upswing at the moment and everybody’s got a smile on their face because we might be at $50 a barrel. But two weeks ago we were at $40 and falling. It’s not a very helpful backdrop to plan a long-term business,” Tony Durrant said in a telephone interview. The oil and gas sector has been rocked by the rout in oil prices that have more than halved from a mid-2014 high of around $115 a barrel to a […]