The oil bulls are running on the last trading day of 2017. After flirting with the mark several times this week, front-month WTI futures are solidly above $60 per barrel in Asian trading this morning. I called this move in oil in an earlier Forbes column with the tag “real and spectacular” and I believe this bull run in energy prices will continue into 2018.
The genesis for today’s move was last night’s weekly report from the U.S. Energy Information Administration, which showed a drop in domestic production from 9.789 million barrels per day two weeks ago to 9.754 mmbpd last week.
