A New Bullish Sentiment In Oil Markets

Oil prices gained 2% Thursday on a combination of news that included a rumor that OPEC will extend output cuts until the middle of next year, though this was tampered by a build in US crude oil inventories. It’s also responding–more than anything–to the faintest of signals that there may be positive developments in the US-China trade war. A 2-percent gain is about all we can hope for at this point in time, when OPEC can no longer affect major oil price movements. The highlight of the week was Putin’s description of US shale technology…