Pessimism About Oil Is Firmly in Place

Oil prices, as I have said for the last few columns, have been range-bound for much of 2017. But oil has a bad reputation of standing still. So as oil's pessimism gains steam, oil stocks look less and less like an exciting investment, at least for the next few months of the summer. 

Last week, we were able to predict and use a rally in oil prices that came from a very large financial short-covering move from speculative hedge fund and energy traders. That was busted late last week, despite an unexpected 6 million barrel drop in stockpiles, and oil stocks have continued to struggle, just as they have for most of the year. ...523 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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