The Rise in Crude is Temporary
The price of crude oil has risen by more than 13% in the last two weeks. The price has been driven up by a perfect storm of temporary factors including seasonal, environmental and political issues.
We believe these will subside and return us to a fundamentally over supplied market causing it to fall back below the magic $100 per barrel mark.
Crude oil futures traded under $93 per barrel as recently as June 24th. This is also the day that flooding concerns began creeping into the news from Alberta, Canada, the largest exporter to …