WTI stuck in frustrating range ($41 to $55) since Apr16 and not showing signs of any directional life for the longer term. What will make it break out? Storms, geopolitics, OPEC, production cuts haven't!?
It's unlikely to break out until supply destruction. It could a couple more years. This is a bathtub recovery with too much supply. Expect a $40 to $60 range for a long time.