Brent crude has experienced some explosive gains this year. It is up nearly 36 percent year-to-date (YTD) while WTI crude oil is up 40 percent YTD. The stellar performance in the oil market has been mainly due to the pledge made by the OPEC countries to keep the supply under a tight leash. Another factor that has kept the lid on the oil supply was the sanctions introduced by the United States on Venezuela and Iran. This is on top of the fact that we have seen some major supply disruptions in countries like Nigeria and Libya, which squeezed the supply further.There was a major development over the weekend for the oil ... (full story)