While fears of a global recession are still very much alive and kicking, oil traders have been opening increasingly bullish positions in the belief that the selloff earlier this month was overdone.
Chart of the Week
- The spread between the world’s two leading crude benchmarks, Brent and WTI, is as wide as it has been in more than three years, moving as far as $8.50 per barrel recently.
- Previous strength in WTI has been tangibly beaten down by we...