Crude oil and gasoline futures contract prices moved down yesterday, as the market took a breather from an accelerated upturn.
But the overall medium-term trajectory for oil prices no longer appears to be in doubt.
As I have indicated on several occasions recently, the downward movement in May and June was an overreaction to softness in the sector, with the ultimate slide over twice as large as any objective reading of the fundamentals would justify.
We are now witnessing…
Keep on reading: The Trajectory is for Oil Prices to Rise