It’s not easy being an oil bull when everyone around you is a bear, but according to a reading of the tea leaves in Slugcatcher’s morning cuppa the worst of the current downturn is already priced in and a slow recovery in on the boil.
How far will it go? Probably back to $US60 a barrel, but not much higher - and getting there might take the rest of the year. Confidence in that prediction is not high, but it is...
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