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As oil soars, strange market anomaly points to even more gains

May 17, 2018

An anomaly is taking shape in the oil market — one that suggests the sheer force behind the recent rally.

Paul Hickey, who runs independent research firm Bespoke Investment Group, says WTI crude is surging in an atmosphere that isn’t normally conducive for such big gains.

“We’ve seen a real big rally in crude oil here off the lows,” Hickey said Wednesday on CNBC’s “Trading Nation.” “The dollar over that same period is up about 5 percent, and as you know, like oil and water, oil and the dollar typically don’t mix.”

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