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WTI crude oil prices continue higher in 2019 and are now up almost 40% from their December lows.
While consumers are feeling the effects of near $60-per-barrel oil prices at the gas pump, the rally has created a huge opportunity for investors.
Will oil prices keep rallying in 2019?
Distortions in the market are clouding the true supply/demand price of crude. Dollar manipulation by global central banks is the key contributor to the cloudiness.
Comparing today's prices to early October's prices (near $75), crude has fallen thanks to strength in the dollar.
Take that artificial strength away, and crude reverses course. That's already happened to a degree as the central bank has pivoted back to a more dovish stance on rates and monetary policy.
As a result, crude is sitting back near $60 per barrel again.
Money Morning Global Energy Strategist Dr. Kent Moors says crude prices are trading 18% lower than his proprietary algorithm shows.
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Certainly, OPEC is having an impact on the market as well, as they are highly incentivized to keep crude prices higher.
The salvation perhaps may come from domestic production and/or a global slowdown, but even there increasing supply is not easy to do.
Things are even more interesting with respect to the global slowdown.
Both China and the European Union are flooding the market with liquidity in order to jump-start slowing economies.
Those actions would suggest global growth will return, especially if the United States manages to avoid a recession in the near term.
If so, Dr. Moors' model suggests even higher crude oil prices.
And the VQScore system has just identified the three best oil stocks to own as prices continue higher…