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With The Recent Oil Glut Gone, Crude’s Upside Is Big

“U.S. oil prices are lagging behind global oil prices climbing toward $80 a barrel, the latest sign of a market that has gone from glutted to exceptionally tight in the past year” reports Anyhow, rising oil is one more peak-cycle indicator that solidifies the comparisons with past peaks and the carnage that followed.Saudi Arabia, Iran, Venezuela, and Russia are all big oil exporters and will, to varying degrees, use the coming windfall to do things that liberal democracies will not appreciate.Economically, expensive oil means tighter margins for businesses that operate with long supply chains.Mining is energy intensive, so higher oil means rising costs.

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