It's been four years since we've seen oil prices at levels anywhere close to this.
New York benchmark West Texas Intermediate (WTI) is now comfortably above $74 a barrel, while London-traded Brent Crude is closing in on $76.
For months now, I've been saying that despite the record surge we've seen this year, we've still only seen the tip of the iceberg for oil's big comeback.
Year to date: WTI has surged 22%, with Brent posting a gain of about 13%.
But why am I so bullish on the black stuff's future?
The most telling indicator is this one...
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About the Author
Dr. Kent Moors is an internationally recognized expert in oil and natural gas policy, risk assessment, and emerging market economic development. He serves as an advisor to many U.S. governors and foreign governments. Kent details his latest global travels in his free Oil & Energy Investor e-letter. He makes specific investment recommendations in his newsletter, the Energy Advantage. For more active investors, he issues shorter-term trades in his Energy Inner Circle.