May 17

Oil Climbs on Canadian Fires

The Wall Street Journal
While stockpiles and production may still be relatively high, those factors can take a backseat when investors herd into the same space, which they have been doing lately in commodities, said James Koutoulas, chief executive at Typhon Capital Management, a commodity trader in Chicago with about $100 million in assets. Many are simply buying back into oil, helping to keep the rally going even in the face of oversupply.

“With momentum trades, they can last a long time,” Mr. Koutoulas said.