Ignore The Hype: Oil Is Still In A Bear Market

Oil prices hit two-year-highs on Monday amid signs of
continuously tightening markets and strong signals from Saudi
Arabia and Russia that they are willing to extend their production
cut deal beyond March 2018. The sentiment in the oil market has not
been this bullish in more than two years, with oil demand growth
expected to be strong along with OPEC’s rhetoric that it would do
“whatever it takes” to rebalance the oil market. Brent has been
trading above $60 a barrel for several consecutive days and its
futures curve has been…

Oil prices hit two-year-highs on Monday amid signs of
continuously tightening markets and strong signals from Saudi
Arabia and Russia that they are willing to extend their production
cut deal beyond March 2018. The sentiment in the oil market has not
been this bullish in more than two years, with oil demand growth
expected to be strong along with OPEC’s rhetoric that it would do
“whatever it takes” to rebalance the oil market. Brent has been
trading above $60 a barrel for several consecutive days and its
futures curve has been…