Brent price rises 6% to a five-week high

Significantly greater risk appetite among market participants, the escalation of the conflict in Syria, a weaker US dollar or the breaking through of the psychologically important $50 mark - all of these are good explanations for the massive price surge yesterday, which saw the Brent price climb within just a few hours by over $3 or over 6%. 

However, the best explanation is the "coiled spring effect" where a spring recoils sharply when excessive pressure is applied and then released, says Commerzbank. This is precisely what happened recently with sentiment on the oil market. Contrary to what many market participants believe, the fundamental outlook has brightened.