One trader has an interesting theory about why we might be seeing a bottom in oil prices

wishful thinking

i think wti crude spike up not bec its bottoming out but bec of Fed Dudleys comment.

good observation, or someone mistakenly clicked a bottom bought 100k barrels instead of sell.

Oil will never hit $100 without huge global demand increases. So not this decade.

Demand growth is strong. And the lower the price the quicker the demand growth.

Most people here cannot trade FX properly so I'd advise staying away from commodities.

But the bad news is almost cooked in fully. If not already.
If opec and non opec countries did cut production 2 or 3 % each we would have a supply shortage.

Risk is to the upside.
Be careful. I don't trade this. Yet.

I don't trade it, but worth noting Oil's movement affects ALL currencies, as it is denominated in $US's. Watching Oil, I trade mainly AUD, CAD crosses. I can see (WTI) oil going below $30 again, then to $25 and possible spike down to 20 to clean everyone out (no more sellers), before ascending to the $40 again. Once it reaches $40, next level is back to $60 (possibly as soon as mid year). This may have been part of a short squeeze like last week's, who knows, I just read the charts and the facts (world oversupply in Oil, and no cuts in production). There will be a turnaround though, soon, but just don't know if it's happened yet IMHO.

Rubbish! I wonder why people go for such fickle nonsense when there are firm ways of reading the markets. This notion that the market is random common to traders (both pro and part time gamers) is really unfortunate. Very sad because it is complete nonsense and I can prove it or indeed have over and over again.

The Crow (-_-)

what a load of bull theory. yesterday big oil companies in US and UK were going to get loans from banks to pay their shareholders dividends, according to mainstream media. put 2+2 together.

Its more likely that a huge country came to the conclusion that they should fill up their tanks up to the brink as well...and build a few more tanks...Evian water costs about 4 times more then oil...French water...guess its impossible to buy mineral water for the price of oil....any mineral water. At some point one needs to take a step back and then one sees that 30 Dollar for a BARREL oil is totally ridiculous...ridiculously cheap! Countries are not traders that look at a chart and hope to make a few bips. They think strategically and for 30 Dollars oil is a bargain...

The Age of Oil is almost finished.