Crude oil continues to hold it’s bull market status for 2019 with a ~26% return as OPEC discipline remains in play, and US oil imports fell to a 23 year low despite record output.US President Donald Trump tweeted that ‘Oil Prices getting too high. OPEC, please relax and take it easy. World cannot take a price hike – fragile! That saw the price of Oil fall the most in four weeks before quickly rebounding showing underlying strength.While the persistence push higher to new 3-month highs has slowed down, the burden of proof remains on the bears as the bullish crude drawdown has shifted the options premium toward upside protectionA polarity point may have proven true after a tweet from Trump dropped prices to prior resistance only to see bulls rush in.
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