Crude saw its worst day in 2 months this week, plunging more than 4 percent alone on Thursday. The commodity also dipped below $46 a barrel for the first time since November 30 of last year, and is down more than 15 percent.
Bill Strazzullo, chief market strategist at Bell Curve Trading — who correctly called for crude's plunge to the $30 range back in 2013 — said oil could be on the verge of a massive rally that would send the commodity to levels not seen in three years.
"I think over the next [few years] it's not out of the question that you push $80- to $90" per barrel on oil", Strazzllo said. That's a nearly 100 percent rally from where the commodity is currently trading.
Source: Bloomberg
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