Peak Oil Passnotes: Is Oil Heading Back to Reality?

If you have been watching the oil markets over the past few years - and here on board the Resource Investor yacht in Monaco we suppose you have been - you will have noted a couple of fundamental changes. Things like Brent costing more than the NYMEX WTI.

But apart from that, one of the major changes has been the way high oil prices have supported equity indexes. That high oil price translated into extra performance from the majors and then has slushed around billions of dollars of liquidity. It did it basically by overwhelming the size of the indexes in terms of company volume.

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