Oil Rallies As The Year Ends

During this Christmas-holiday shortened trading week, U.S West Texas Intermediate crude oil is set to finish the year in a strong position to continue the rally into early 2020. Although the market has been on a tear since the week-ending October 25, it was the three bottoms the week-ending June 7, August 9 and October 4 that saved this market from revisiting the lows in the $40’s hit on Christmas Eve 2018. Generally speaking, the bullishness this year has been fueled by a number of factors including progress on Brexit, the U.S./China trade…