WTIU - Oil: Fasten Your Seatbelts

After halving in less than three months, oil prices seem to have stabilized:

The sudden reversal in the last month, I believe, is the prelude to another and larger upward move for the reasons I discuss in this article.

Inventories Are High, But...

The key reason why oil prices plunged by 43 percent is illustrated in the following graph:

From mid-July through September of 2018, the total U.S. Crude Oil and Petroleum Products Stocks increased rapidly by 70 million barrels, or by one million barrels per day.

This increase

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