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Oil sees quiet bull market as hedge funds pile in

Added 12-03-20 07:04:02am EST - “Big money is sensing a new day in the global oil markets.” - Foxbusiness.com

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Posted By TheNewsCommenter: From Foxbusiness.com: “Oil sees quiet bull market as hedge funds pile in”. Below is an excerpt from the article.

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Former Shell Oil President John Hofmeister discusses how a coronavirus vaccine will impact gas consumption.

While the world was worried about COVID-19 lockdowns and oil demand destruction behind the scenes, we have had a quiet oil bull market. With recent developments globally, the days of low oil and gas prices may soon come to an end.

It has been quite a comeback since an OPEC-Plus Russia production war drove oil prices below zero earlier this year. Now with crude oil prices hovering around $45.00 a barrel, there are increasing, certain factions in the market that are betting prices could move substantially higher while others are positioning for a potential oil price crash and they are now starting to run for cover.

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