Is the bull market in oil history?
More than a few investors have suffered from believing in no less at various points in the last few years. When a barrel of oil changed hands at $30, many said it would never reach $40. When it did, $50 a barrel was thought to be impossible. When $50 was crossed, the shock and awe was even more potent, as it was when crude passed through $60, and when it recently touched $70. The sight of dowdy oil-company shares climbing right along with crude’s price was equally surprising for many investors.