Crude Jumps on Dovish ECB Comments, but Headwinds Remain

Crude oil prices experienced a mild relief rally in the later part of the week.  The dovish comments from the European Central Bank gave a boost to riskier assets, which help crude oil gain traction.  Additionally, the expiration of the February futures contract to the March futures contract as the current spot contract increased the value by more than $1.50.  The contango, which reflects a term…