Crude can't ignore fundamentals

摘要

The bulls are at it again this summer. However, unlike 2008 when a falling dollar and insatiable demand lifted crude oil prices to all-time highs, this year's rally is missing one critical component-consumption.rnWhile the media has been busy playing up summer gas prices and green shoots, energy bulls may want to peek under the covers and realize that we're still in a recession. Demand is off. And while speculators may still be buying and refiners are churning out gasoline like it's 2008, it could all come to an end in the second half of 2009 for energy bulls.