Oil Probably Headed Into The $20s

It’s been a wild ride for oil prices. In the $50s, the bottom was in. Then the bottom became the $40s, and then the $30s. Does the recent rally portend brighter days ahead? At least one analyst doesn’t think so. Kevin Book of ClearView Energy Partners thinks the commodity is headed back into the $20s.

“The fundamentals haven’t changed because of a snowstorm,” Book told CNBC’s “Squawk Box.”

“It’s unclear where the right number is, but if 20s is where it should have been or where it was converging, 20s is probably back where it’s going.”