The price of Brent has bounced by nearly 30% since mid-January, leading some to view the recent turmoil in the oil markets as a short-term correction. However, Argonaut’s Greg Bennett believes the spot price of crude has been propped up by opportunistic filling of onshore storage facilities, which will be full within a matter of weeks. As such, we may see the price of oil stay lower for longer – but there are potential winners in the oversupplied market.
