From Newsmax:

Economist Dennis Gartman, editor of the Gartman Letter, says oil is headed higher, possibly to $50 or $55 per barrel within the next three months.

It's now in the mid-$40s.

"A huge sum of oil has been put in storage," Gartman told Bloomberg TV.

"Over many months, when the contango was extraordinarily wide, you could make almost 30 percent or more."

Contango refers to the situation when distant-month futures contracts trade at a higher price...

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