Oil

Few were predicting higher oil prices. Savvy investors knew that this pessimism would be short-lived. Prices went on to rally 21% in six weeks.

Now that we are over a year into the bull market in oil, we are seeing the second- and third-tier shale deposits getting drilled.

Something strange is occurring in crude oil futures. The peculiar action looks bullish even though the narrative is clear as mud…

Last year, the media was calling for the next bear market in oil. The last thing on most people’s mind was a 50% rally. But that’s exactly what happened.

Iran exported 2.2 million barrels of oil per day in July. That’s far more oil than Russia, Saudi Arabia or the U.S. can replace when sanctions begin.