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As of yesterday morning, crude oil prices were holding tight near a two-year high. Despite the misgivings of short-sellers who use falling oil as a means to make money, the global market has finally stabilized.
As I write this, WTI (West Texas Intermediate) was at $57.33 a barrel, nicely above the upper limit of the end-of-year $55 to $57 range I forecast last month. The consensus indicates our next resistance level is around $60.
Meanwhile, London-set Brent is trading at $63.97, convincingly higher than my Dec. 31 range of $58 to $60 a barrel.
This adds up to one fact…
We're now in the perfect environment to make some nice money with the presence of two crucial ingredients: a degree of predictability and low volatility.
So, while I develop my new, upgraded crude oil forecast for the first quarter of 2018, let's take a look at why this is happening and, more importantly, how we can make some money in the oil patch…
Sometimes Crude Oil Surpluses Can Be a Good Thing
I've written regularly about how critically important market balance between supply and demand is.
And that elusive, long-awaited market balance is here.
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.