The crude market has drawn plenty of attention this week as the ongoing rally saw prices breaking out to fresh three year highs. Traders have been increasing their net long positions in crude over recent weeks, as reflected in the COT report which has shown the net long position moving back up to multi-month highs. Oil prices have been rising steadily as a result of the ongoing energy crisis which is fuelling speculation that there will be a shift away from natural gas back towards oil as a result of rampant natural gas prices. With the energy market in flux, the near term outlook for oil remains geared towards ... (full story)