| How often did one read this year that the oil market is in terrible shape – weak, lackluster, oversupplied, bearish, limp? That there were sharp losses last year as prices collapsed, spiraled down, crashed? Most of the words used to describe oil getting cheaper had a negative connotation.
To any casual observer or consumer of oil, however, the market could be seen in wonderful shape with pump prices more accessible than before. A commodity that is being produced in a far greater quantity than can be consumed has seen its price go down. So is there a bias in oil journalism focusing more on the potential gains or losses to producers or those “long” oil? A significant place to look is the trend of long-only investors pouring into oil futures contracts in various forms, which began in the mid-2000s...............................................Full Article: Source
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