by Kurt Kallaus
Oil has almost doubled in price over the past four months, so the Oil glut must be over?! Of course not, the glut remains. A supply glut or shortage is not required for prices to rise and fall and indeed it can be misleading for proper timing of your investments. Our Bearish forecast in the summer of 2014 over $100/barrel never forecasted how big the energy glut would become, but never wavered from a Sell until the Bear market low that appears to have arrived at $26/barrel in January 2016. We are also on record calling the interim low and rally in the 1st half of 2015 as well as the subsequent decline.