Kevin Muir writes..
We are still miles away from a true bull market in crude. Could that happen? For sure. But the fate of the energy market still lays in front of us. The bulls should temper their enthusiasm.
Yet I am by no means sanguine about the energy market. What am I worried about? I am concerned that a Saudi Arabian military response will cause a crude oil move that would be epic. I am not predicting that by any means, but the one thing I have learned over the decades is that markets can move way more than almost anyone can imagine.
This recent volatility is unusual given the last decade’s muted price action, but make no mistake, further escalation in the Middle-East will result in limit-up moves in crude oil futures.
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