FYI: Crude oil is up for a third straight day this morning, which has taken the price of WTI above $50 per barrel to $51.10. At this level, crude oil has now taken out its highs from last October and is trading at its best levels since 7/15/15. It has certainly been an amazing rally for oil prices over the last four months, with prices rising 96% off their lows in February. If the price rises another dollar, it will be a clean double. Going forward, it will be interesting to see if there is a point where financial markets become concerned that prices have risen too high. That point is probably a way off, but while we may be dating ourselves here, there was a time when $50 crude was considered a bad thing.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/crude-oil-a-buck-from-a-double/
